ET/p 8. If a firm's technology is such that output y = 3K + L, and the price of K is PK = 12, and
ET/p 8. If a firm's technology is such that output y = 3K + L, and the price of K is PK = 12, and the price of L is pr = 8, then what is the minimum cost of producing y = 1 12. units of output? 12 ( 3 ) + 8 /1) = m 1 = 12 .+ 8 = 4+8 = D) 44 m E) None of the above = 12
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