Multiple Choice
Suppose that a farmer grows corn. The farmer's production function is Q(K,L) = 5K0.4L0.6, where K is the number of harvesters and L is the number of farmworker labor hours. The prevailing wage rate is $8 per hour and the rental rate associated with harvesters is $75. The farmer has a goal of delivering 100,000 bushels of corn to market. What Lagrangian equation can be used to solve the farmer's cost minimization problem?
A) 
B) 
C) 
D) 
Correct Answer:
Verified
Correct Answer:
Verified
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