Determine the conditional demand functions for materials, Macroeconomics

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Determine the conditional demand functions for materials

The price of labor, capital and materials are w, r and m respectively.

1. In the short run, the amount of capital is fixed at the k=k0. Determine the conditional demand functions for materials and labor in the short run?

2. Describe the short run total cost function? For what scales of production does it exhibit economies of scale?

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Macroeconomics: Determine the conditional demand functions for materials

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Macroeconomics: Determine the conditional demand functions for materials

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