The production function for widgets is given by 16l14k14, Ask an Expert

Economics

The production function for widgets is given by 16L^1/4K^1/4. The price of labor (w) is $30 and the price of capital (r) is $30.?

What is MPL, MPK, APL, APK?

How much labor and capital would be required to minimize the cost of producing 200 widgets?

What is the total cost producing 200 widgets?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91821507

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