Essay
Q = K1/2L1/2
w = $2,r = $2
The firm would like to know the minimum cost of producing 2000 units of output.Find the combination of inputs that minimizes the cost of producing 2000 units,the total cost,and identify the expansion path.
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MPL = 1/2 K1/2L-1/2 MPK = 1/2 K-1/2L1/2 Optimization requi...View Answer
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