Profit-Maximization oconu Its Production function 0 24 Labor(hours)
Profit-Maximization Labor (hours) Coconuts Production function 0 24
Profit-Maximization oconu Its Production function 0 24 Labor(hours)
Profit-Maximization Labor (hours) Coconuts Production function 0 24
Profit-Maximization Coconuts Isoprofit slope= production function slope Production function 0 L 24 Labor(hours)
Profit-Maximization Labor (hours) Coconuts Production function 24 C* L* Isoprofit slope = production function slope 0
Profit-Maximization Coconuts Isoprofit slope= production function slope ie.W=MPL=1×MPL=MRPL Production function 0 L 24 Labor(hours)
Profit-Maximization Labor (hours) Coconuts Production function 24 C* L* Isoprofit slope = production function slope i.e. w = MPL = 1 MPL = MRPL . 0
Profit-Maximization Coconuts Isoprofit slope= production function slope ie.W=MPL=1×MPL=MRPL Production function L 24 Labor(hours) RC gets TT*=C*一L
Profit-Maximization Labor (hours) Coconuts Production function 24 C* L* Isoprofit slope = production function slope i.e. w = MPL = 1 MPL = MRPL . * RC gets * = C* −wL* 0