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Assume the production function of a firm is given by Q=min{L,2K} and that the firm wants to produce exactly 100 units. What is the cost
Assume the production function of a firm is given by Q=min{L,2K} and that the firm wants to produce exactly 100 units. What is the cost minimizing levels of labor and capital when w = 2 and r = 2? How does that change if w = 2 and r = 1? How does that change if w = 2 and r = 0.5?
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