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Suppose the Firm's Production Function Is Q = K1/3L2/3, Where

Question 60

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Suppose the firm's production function is Q = K1/3L2/3, where the MPK = Suppose the firm's production function is Q = K<sup>1/3</sup>L<sup>2/3</sup>, where the MPK = and MP<sub>L</sub> = ) If the rental rate of capital R is $30 and the wage rate W is $40, then the cost-minimizing capital-to-labor ratio is K/L = ____. A) 3/2 B) 1 C) 2/3 D) 1/2 and MPL = Suppose the firm's production function is Q = K<sup>1/3</sup>L<sup>2/3</sup>, where the MPK = and MP<sub>L</sub> = ) If the rental rate of capital R is $30 and the wage rate W is $40, then the cost-minimizing capital-to-labor ratio is K/L = ____. A) 3/2 B) 1 C) 2/3 D) 1/2
)
If the rental rate of capital R is $30 and the wage rate W is $40, then the cost-minimizing capital-to-labor ratio is K/L = ____.


A) 3/2
B) 1
C) 2/3
D) 1/2

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