Expansion Paths and Total Cost

production technology

F(L,K) = AL^\alpha K^\beta

\alpha = {{params.alpha | number: 2}}:

\beta = {{params.beta | number: 2}}:

A = {{params.A | number: 2}}:

input prices and quantity

{{ notation.wLabel }} = {{params.w | number: 2}}:

{{ notation.rLabel }} = {{params.r | number: 2}}:

{{ notation.outputLabel }} = {{params.q | number}}:

Isoquants Long Run Expansion Path Short Run Expansion Path for K = {{ params.K }} Point along Isoquant q = {{ params.q }} where K = {{ params.K }}