Question
Consider a firm with a production function of q = min (2L, K + L). Assuming that the firm pays a constant amount w for
Consider a firm with a production function of q = min (2L, K + L).
Assuming that the firm pays a constant amount w for each unit of L and v for each unit of K, find the cost minimizing levels of inputs, L* and K* for the firm
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Principles of Microeconomics
Authors: N. Gregory Mankiw
8th edition
1305971493, 978-1305971493
