Question

The average revenue function of a

monopolist is P=1/√Q where Q is the


quantity and P is the price of the

product. His production function is

Q = 36K ^1/2 L^1/ 2 where K and L are inputs

and input prices are PL =12 and

PK = 3 / 4 . Find the profit-maximizing

input levels and profit-maximizing output.​

Answer 1

Explanation:

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