Indicate whether each of the following statements is, Ask an Expert

Economics

Indicate whether each of the following statements is possibly true or certainly false.

a) The cost-minimizing bundle for y = 50 is l = 10 and K = 40 if labor and capital cost the same, and is l = 12 and K = 37 when labor costs $20 and capital costs $15.

b) The cost-minimizing bundle for y = 50 is l = 10 and K = 40 if labor and capital cost $12, and is l = 15 and K = 33 when labor costs $10 and capital costs $15.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720453

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