The foc and local soc for the firms optimization problem


The FOC and local SOC for the firm's optimization problem can be used to prove the law of supply, meaning exactly: if the firm supplies a positive quantity at the current market price, then at a higher price it will supply a larger quantity. Without doing any additional mathematics, show that a violation of the law of supply would imply a contradiction of the local SOC. You can assume that the firm's marginal cost function is differentiable.

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Business Economics: The foc and local soc for the firms optimization problem
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