Question: Problem 1 Suppose a rm has the Cobb-Douglas production function y : ALaK'S with a: + I? c: 1 , where L and K are

Problem 1 Suppose a rm has the Cobb-Douglas production function y : ALaK'S with a: + I? c: 1 , where L and K are inputs, 3.! is output and A, a, B are positive parameters. [a] Set up the prot maximization problem [assuming input prices w and r, and output price p]. Then solve for the input demand and output supply):r functions

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