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A firm with the production function (, ) = 2**sqrt() is currently utilizing 8 units of labour and 2 units of capital. If this is

  1. A firm with the production function (, ) = 2**sqrt() is currently utilizing 8 units of labour and 2 units of capital. If this is the optimal input mix, and if total costs are equal to 16, what are the prices of capital and labour?

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