Question
You manage a plant with the following production function: f(L,K) = 10L^1/3 K^2/3. As the manager, you agreed with your worker's union that you will
You manage a plant with the following production function: f(L,K) = 10L^1/3 K^2/3. As the manager, you agreed with your worker's union that you will hire 100 workers.
A) If w=$18 and r=$9 what is the cheapest way to produce q=600?
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
