|
|
Subject:
MICROECONOMIC THEORY PROBLEM
Category: Business and Money > Economics Asked by: aahamed_83-ga List Price: $15.00 |
Posted:
14 Mar 2006 14:22 PST
Expires: 13 Apr 2006 15:22 PDT Question ID: 707300 |
This problem is quite specific and will help me to study for an upcoming exam. (Complete solutions will be greatly appreciated!) "Suppose there are 2 industries for goods X and Y, with technologies represented by X=min{2l,k} and Y=l+k, where l and k are the two factors of production. Suppose there is one consumer with preferences represented by u(x,y)=x^(1/3)y^(2/3) who supplies the inputs (perfectly-)inelastically and has an endowment of (l,k)=(8,24). What is the competitive equilibrium for this economy?" |
|
There is no answer at this time. |
|
There are no comments at this time. |
If you feel that you have found inappropriate content, please let us know by emailing us at answers-support@google.com with the question ID listed above. Thank you. |
Search Google Answers for |
Google Home - Answers FAQ - Terms of Service - Privacy Policy |