Question:

Economics Question! Help! Pt. 6?

by  |  earlier

0 LIKES UnLike

Hey guys! I'm stuck on this one and was hoping someone could show me a walk-through. Thanks!

Michele sells user-friendly software. Her firm's production funciton is f(x1,x2) = x1 + 2x2, where x1 is the amount of unskilled labor and x2 is the amount of skilled labor that she employs.

A.) If Michele faces factor prices (w1, w2), what will be the minimal cost of producing "y" units of output?

 Tags:

   Report

1 ANSWERS


  1. A: min{w1;w2/2}

Question Stats

Latest activity: earlier.
This question has 1 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.