(Q) Consider the following production technologies: f(l, k) =a·l+b·k f(l, k) =l^a·k^b f(l, k) = l^(1/2)+

Consider the following production technologies: f(l, k) =a·l+b·k f(l, k) =l^a·k^b f(l, k) = l^(1/2)+k^(1/2) For each of the production functions, a Calculate the elasticity of substitution. b Solve the cost minimization problems. c Find the input demands. d What is the interpretation of the Lagrangian multiplier? (onlyneed to answer once) e When is does each function have increasing, decreasing orconstant returns to scale? f Compute Cl and Ck and explain what they represent. . . .

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Consider the following production technologies: f(l, k) =a·l+b·k f(l, k) =l^a·k^b f(l, k) = l^(1/2)+ .

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YOU MAY ALSO READ ...  (Q) “DESCRIPTIVE ESSAY” JUST ONE SHORT PARAGRAPH ABOUT MOTHER