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Business, 16.11.2020 17:40 ciarrap552
1. Consider the production function Q = (0.5K1/3 + 0.5L1/3)3 . Suppose the firms want to minimize the cost of producing 8 units of output. It pays a wage rate W of $40 and capital cost R of $10. How many units of labor and capital should the firm use?
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1. Consider the production function Q = (0.5K1/3 + 0.5L1/3)3 . Suppose the firms want to minimize th...
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