Question
If output is produced according to Q = 4L + 6K, the priceof K is $24 and the price of L is $20, then the
If output is produced according to Q = 4L + 6K, the priceof K is $24 and the price of L is $20, then the cost minimizing combination of K and L capable of producing72 units of output is _____.
a.L =18 and K =12
b.L =18 and K =0
c.L =0 and K =12
d.L =9and K =6
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Econometric Analysis Of Cross Section And Panel Data
Authors: Jeffrey M Wooldridge, J M Wooldridge
2nd Edition
0262232588, 9780262232586
