Suppose a production function is given by fkl kl2 what, Ask an Expert

Economics

Suppose a production function is given by f(K;L) = KL², and that the price of capital is $10 and the price of labour is $15. What combination of labour and capital minimizes the cost of producing any given output? (In other words, what is the equation for the expansion path?)

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9166260

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