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A firm produces good X using the production function X = min{4L, 0.5K} and the price of both L and K are $12 a unit.
A firm produces good X using the production function X = min{4L, 0.5K} and the price of both L and K are $12 a unit. Find the total cost of producing X* units of output?
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Macroeconomics
Authors: Charles I. Jones
4th Edition
393603767, 393603768, 9780393616125 , 978-0393603767
