Deriving the Long-Run Expansion Path

[@ChrisTurkington]

Good video. Helped with my Economics revision. Well made and well explained.

[@upasanamajumdar315]

Exactly what i wanted to know. Thanks so much ! :)

[@shyruti]

To derive short run expansion path, we just need to put it the value of k?

[@chloe-mariek2488]

You're the best!

[@gaintheprowess]

super helpful video

[@joesr31]

What is it is a min function? Pls help!

[@joesr31]

I saw the video you sent to me, I got that part, is just that I have trouble drawing the expansion path. more specifically short run expansion path, figured this was the closest video to help me solve it. For example, if I have Q=min(K,2L) K is fixed at 2, how would be expansion path look? would it be just a point?

[@latifmammadli6815]

compliments

[@vanyabrucker]

@@joesr31 A minimum production function implies perfect complement inputs and an optimum with Q=min(K, 2L) will have the constraint K=2L. Reformulating for L and K respectively returns the expansion path. Taking the partial derivative is therefore not necessary in the case of a minima production function.