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Derive thermo-can conditional demands for inputs

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Reference no: EM132519002

Thermo-Can manufactures insulated travel mugs, their production function is given as y= min{4x1 , x2} where 1 represents the mug and 2 the lid and accessories. The input prices are expressed by 1 and 2, respectively.

  • Derive Thermo-Can's conditional demands for inputs 1 and 2.
  • Determine Thermo-Can's total cost function.

Reference no: EM132519002

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