Cost minimization for a firm - Maple Application Center
Application Center Applications Cost minimization for a firm

Cost minimization for a firm

: Sanjay Paul
Engineering software solutions from Maplesoft
This Application runs in Maple. Don't have Maple? No problem!
 Try Maple free for 15 days!
A firm uses labor (L) and energy (E) to produce output (Q). The production function is: Q=F(L,E). The firm hires labor and buys energy in competitive factor markets. The cost of a unit of labor is w, that of a unit of energy is r. The firm's objective is to minimize the total cost of producing a given level of output(Qo).

Application Details

Publish Date: June 19, 2001
Created In: Maple 6
Language: English

More Like This

Is a Stock Overvalued or Undervalued?
Classroom Tips and Techniques: Norm of a Matrix
Advanced Microeconomics: Slutsky Equation, Roy’s Identity and Shephard's Lemma
Why is the Minimum Payment on a Credit Card So Low?
Optimal Portfolio Allocation and Economic Utility
Local Volatility and Implied Volatility
Asian Options: Analytical Approach
An Interactive Stock Quote Importer
Perpetual Options