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A firm has the following short run production function Suppose a production function is given by F (K, L) = KL 2 , the price

A firm has the following short run production function

Suppose a production function is given by F (K, L) = KL2, the price of capital is $10, and the price of labor $15.

  1. If the firm wants to maximize output subject to the cost constraint of 1,000, what combination of labor and capital minimizes the cost of producing any given output?
  2. What is the total output from the above combination?
  3. Illustrate your answer using graph

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