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Can you please check my answers for accuracy? Question: What are the cost-minimizing values of L and K for the following functions? Note that w
Can you please check my answers for accuracy?
Question:
What are the cost-minimizing values of L and K for the following functions? Note that w = r = 2 and the production target is 50.
(a) (5) q = f(L, K) = 2LK
(b) (5) q = f(L, K) = 2L + K
(c) (5) q = f(L, K) = min{2L, K}
(d) (5) q = f(L, K) = 2L + ? K
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