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16 number question Assume a firm's production function is given as follows: Q = min {18L, 12K). If K = 8 and L = 6,

16 number question

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Assume a firm's production function is given as follows: Q = min {18L, 12K). If K = 8 and L = 6, which of the following is correct? O Q = 108, and capital and labor can be substituted for each other at the rate of 1.5 L for 1.0 K. O Q = 96, and capital and labor can be substituted for each other at the rate of 1.5 L for 1.0 K. O Q = 96, and capital and labor can be substituted for each other at the rate of 1.5 K for 1.0 L. O Q = 96, and capital and labor cannot be substituted for each other

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