Essay
Suppose the production function is F(L,K)= 3L + 2K. In the short run Labour is fixed at L =
2. If w = 2 and v = 1, what is the cheapest way to make 12 units of output in the short run?
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Since L = 2 is fixed in the short- run, ...View Answer
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Correct Answer:
Verified
Since L = 2 is fixed in the short- run, ...
View Answer
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