Question q 6lk w 3 r 15 the firm would like to know the, Ask an Expert

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Question: Q = 6LK w = $3, r = $1.5 The firm would like to know the maximum output that can be produced for $9,000. Find the combination of inputs that maximizes output for a cost of $9,000, the amount of output that can be produced, and identify the expansion path. Fill in Multiple Blanks

(a) The expansion path is (enter the equation of the expansion path in the form K = f(L)). For (b), if rounding is required, round your answer to the whole number (i.e., do not show the decimal places). Enter the numerical value only, do not enter any symbols ($, €, %, etc.).

(b) The combination of inputs that maximizes output for a cost of $9,000 is: K = units and L = units, and the amount of output that can be produced is units.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92599410

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