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In: Economics

Maximize output with a given total outlay (costs): set up a Lagrangian, etc... Then, Minimize costs...

Maximize output with a given total outlay (costs): set up a Lagrangian, etc... Then, Minimize costs when required q is given in a perfectly competitive markets: set up a Lagrangian and then show FOC, SOC, maybe show a graph.

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Rahul Sunny answered 1 year ago
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