Question
Charlie can produce chocolate bars at the following rate: Q = 4K^0.5 L^0.5 . His Oompa Loompas currently earn $8/hour and he pays $2 per
Charlie can produce chocolate bars at the following rate: Q = 4K^0.5 L^0.5 . His Oompa Loompas currently earn $8/hour and he pays $2 per hour in rent for his machines.
A) If Hogwarts puts in an order for 200 Chocolate Frogs, what are Charlie's optimal number of hours for workers and machines?
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The Economics Of The Environment
Authors: Peter Berck, Gloria Helfand
1st Edition
978-0321321664, 0321321669
