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A firm production function is given by q = f(k,l) = k·l. q0 = 100. w = $20, v = $5. At the point at which this firm minimizes the cost of producing q0, it uses how many unit(s) of labor and how many unit(s) of capital? NOTE: write your answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Show all steps.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720738

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