Wealth is redistributed from creditors to debtors when inflation was expected to be: high and it turns out to be high B. low and it turns out to be…
September 3, 2020
Suppose that in an hour an American worker can produce 100 shirts or 20 computers, while a Chinese worker can produce 100 shirts or 10 computers.
September 3, 2020

Simple Math question.

A firm has total cost function TC = 2x^2 + 3y^2 -3xy -3x +30. Find the optimum bundle of x and y that will minimize the cost. (Use cramer’s rule)

A firm has total cost function TC = 2x^2 + 3y^2 -3xy -3x +30. Find the optimum bundle of x and ythat will minimize the cost. (Use cramer’s rule)We take first derivatives wrt x and y and equate to…

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