Question
Given a cobb - Douglas production function Q = L0.5 K0.4 And the prices of capital and labour are ksh3 and ksh 4 respectively while
Given a cobb - Douglas production functionQ = L0.5 K0.4 And the prices of capital and labour are ksh3 and ksh 4 respectively while the firm outlay is Kshs.108, calculate the optimal combination of factors inputs.
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
