Your firms production function q4k12l12ltbrgtltbrgtsuppose, Ask an Expert

Economics

Your firms production function : Q=4K^1/2L^1/2

Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much labor will be hired to minimize the costs of producing 200 units of output?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9514633

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