A firm has a production function f(L, K) = L1/2 K1/4. The price of its output is

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A firm has a production function f(L, K) = L1/2 K1/4. The price of its output is p = 4. Suppose the price of labor is w = 2, and the price of capital is r = 1. Find the long-run profit-maximizing choices of labor and capital

Posted Date: Jun 13, 2024 04:03 PM

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A firm has a production function f(L, K) = L1/2 K1/4. The price of its output is

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