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What is Deriving Production from Cost Function about?

1) The document demonstrates that the production function can be derived from the cost function. By choosing different input price combinations, isocost lines for producing one unit of output are plotted, tracing out the isoquant. 2) Algebraically, the cost function c=(x)^(w)^.5*(r)^.5 is used to derive the production function x=(k/l)^.5 through Shephard

Author

Tanguturi Rajya Lakshmi

Language

EN