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Producer Theory A firm has the following Production Function: Q=3K-L- and W=P=$10 r=P =$90 a) If the profit maximizing firm is committed to producing output

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Producer Theory A firm has the following Production Function: Q=3K-L- and W=P=$10 r=P =$90 a) If the profit maximizing firm is committed to producing output Q = 6300 units at least cost, what are the optimal amounts of capital and labour the firm should employ? (6 marks)b) What is the total cost of production? (7 marks) c) Illustrate your answer. (2 marks) K L

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