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
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