slides up; about tomorrow's quiz
Hi,
Today's slides are up.
Tomorrow's quiz will be at the end of class. We have one more slide we need to discuss before it, about cost minimization in the short run (when the firm cannot adjust/choose how much capital it uses). Here's the full list of things you should know:
slopes of the isoquant and of the isocost curves; IRS, DRS, CRS; assumptions on technology; find the optimal input bundle L^{∗} and K^{∗} and the cost function given w, r and the production function (representing any of the three types of technology); and find the short-run cost function given all that and a fixed K
Best,
Frank