Question
Whole number answers only please! Consider a firm with a production function given by: q = 2K 1/2 L 1/2 , labor can be hired
Whole number answers only please!
Consider a firm with a production function given by: q = 2K1/2L1/2, labor can be hired for $20 per hour and capital rents for $80 per hour. The cheapest way for the firm to produce 400 widgets is to use_____ units of labor and_____ units of capital. This will cost the firm $_____.
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Auditing A Practical Approach
Authors: Robyn Moroney
1st Canadian Edition
978-1118472972, 1118472977, 978-1742165943
