6.2. A firm is required to produce 100 units of output using quantities of labor and capital...
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6.2. A firm is required to produce 100 units of output using quantities of labor and capital (L, K) ! (7, 6). For each of the following production functions, state whether it is possible to produce the required output with the given input combination. If it is possible, state whether the input combination is technically efficient or inefficient.
a) Q ! 7L " 8K
b) Q ! 201KL
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