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Question 5, HW Score: 0%, 0 of 8 points Question 3.2 O Points: 0 of 1 Save Consider the following production function: q = 100L
Question 5, HW Score: 0%, 0 of 8 points Question 3.2 O Points: 0 of 1 Save Consider the following production function: q = 100L 0.8 10.4 Currently the wage rate (w) is $8.00 and the price of capital (r) is $2.00. If the firm is using 200 units of capital in production, how much labor should be employed to minimize costs? Labor input = units. (Enter a numeric response using a real number rounded to two decimal places.)Question 6, HW Score: 0%, 0 Concept of 8 points Question 3.2 O Points: 0of 1 Consider the following production function: q=100"K"4. Currently the wage rate (w) is $30.00 and the price of capital (r) is $10.00. If the firm i1s using 50 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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