suppose the hourly wage is $2 and the price of each unit of capital is $8. The production function is given by q = (E^1/2)(K^1/2) and the marginal product of labor and capital are MPe =(K^1/2)/(2E^1/2) and MPk =(E^1/2)/(2K^1/2) respectively.
A)what is the average product of capital and labor?
B)what is the cost minimization choice of capital and labor if the firm decides to produce 144 units of output?