# Answer to Question #30117 in Microeconomics for mulugeta

Question #30117

5. Given the following profit function

Π=30PLαKβNμ-γW-ψK-ɵN (profit function)

Derive the following

i. Input demand functions. (2 points)

ii. Output supply function. (2 points)

iii. Maximum profit function. (2 points)

6. Define shepherd lemma and Hotelling lemma

Π=30PLαKβNμ-γW-ψK-ɵN (profit function)

Derive the following

i. Input demand functions. (2 points)

ii. Output supply function. (2 points)

iii. Maximum profit function. (2 points)

6. Define shepherd lemma and Hotelling lemma

Expert's answer

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