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A firm has the following production function, 1 l Q22K3L2 The profit maximizing firm faces the problem of producing the optimal amount of output Q,
A firm has the following production function, 1 l Q22K3L2 The profit maximizing firm faces the problem of producing the optimal amount of output Q, with a budget constraint of $30.00!]. If PL=$3 and Pk=$E, what are the optimal amounts of capital and labour that this profitmaximizing firm should use? [4 marks} Wat is the optimal amount of output? (4 marks} Illustrate your answer. [2 marks} K
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