Multiple Choice
If output is produced according to Q = 4L + 6K, the price of K is $12, and the price of L is $20, then the cost-minimizing combination of K and L capable of producing 96 units of output is
A) L = 20 and K = 12.
B) L = 0 and K = 16.
C) L= 24 and K = 16.
D) L =12 and K = 8.
E) L = 24 and K = 0.
Correct Answer:
Verified
Correct Answer:
Verified
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