Multiple Choice
A firm produces output according to the production function,q = L4/3K1/2 and faces input prices equal to w = $20 and r = $80.What is the minimum cost of producing 1140 units of output?
A) Cost = $780
B) Cost = $694
C) Cost = $2,071
D) Not enough information is given to answer this problem.
Correct Answer:
Verified
Correct Answer:
Verified
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