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(30 points) A firm produces output with the production function Q=sqrt(KL). where K and L denote its capital and labor inputs respectively. If the price
(30 points) A firm produces output with the production function Q=sqrt(KL). where K and L denote its capital and labor inputs respectively. If the price of labor is 1 and the price of capital is 4 , what quantities of capital and labor should it employ if its goal is to produce 2 units of output? Solve the same problem if Q=K+L and Q=min{K,L}
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