Recent content by Ginnee

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    MHB What is the Optimality Condition for a Firm's Profit Maximization Problem?

    If I'm given a firm's production function of $$Y=zK^{\alpha}{N}^{1-\alpha}$$ Then assuming $$K$$ is fixed and cost free, we can get our profit maximzation problem of $$\max_{{N}}zF(K^{\alpha}{N}^{1-\alpha})-wN$$ To find the optimality condition, $${MP}_{N}=w$$ , I take the partial...
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