Question
Student question Consider the following production function: q=100L^0.8 K^0.4. Currently the wage rate (w) is $2.00 and the price of capital (r) is $2.00. If
Student question
Consider the following production function:
q=100L^0.8 K^0.4.
Currently the wage rate (w) is $2.00 and the price of capital (r) is $2.00.
If the firm is using 20 units of capital in production, how much labor should be employed to minimize cost?
Labor input= ???? units.(Enter a numeric response using a real number rounded to two decimal places. Dear expert don't use AI boat also I need typed answer please don't submit handwritten answer .
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How China Escaped Shock Therapy The Market Reform Debate
Authors: Isabella M Weber
1st Edition
0429953968, 9780429953965
