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Consider the following production function: q =100L0'8K0'4. Currently the wage rate (w) is $20.00 and the price of capital (r) is $10.00. If the firm
Consider the following production function: q =100L0'8K0'4. Currently the wage rate (w) is $20.00 and the price of capital (r) is $10.00. If the firm is using 200 units of capital in production, how much labor should be employed to minimize costs? Labor input = D units. (Enter a numeric response using a real number rounded to two decimal places.)
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