show that the cost function of a leontief technology is linear in input price, focus on a 3 input technology i.e. y=f(x1,x2,x3)=min(ax1,bx2,cx3) a, b and c are the parameters of technology conceptually I understand the principal
show that the cost function of a leontief technology is linear in input price, focus on a 3 input technology i.e. y=f(x1,x2,x3)=min(ax1,bx2,cx3) a, b and c are the parameters of technology conceptually I understand the principal