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Suppose a firm produces output according to the production function below where Q = quantity produced, K = capital and L = labor: Q=4K+8L If

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Suppose a firm produces output according to the production function below where Q = quantity produced, K = capital and L = labor: Q=4K+8L If the wage rate is w = $60 per hour and the rental rate on capital is r = $20 per hour, what is the cost-minimizing input mix for producing 32 units of output? Type out calculations as well as your final answers on K and L

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