The profit maximization problem and optimality conditions

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Reference no: EM13982452

I have the following production function:

Y = f(L; K) = L1=3K1=3

(a) Write down the profit maximization problem and optimality conditions.

(b) What is the technical rate of substitution? What is the rate of transformation?

(e) What is the Marginal cost of production? What is the AVC and ATC?

Reference no: EM13982452

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