1 [25 points; Chapter 21 Cost Minimization] A firm has the production function F(L, K) = 2L1/2 + 3K1/2. The price of labor is $4 and the price of capital is $3. The firm has a production goal of 16 units of output. a) Neatly specify this firm’s cost minimization problem, using the particulars associated with this problem. b) Give two equations that an interior solution satisfies, tailoring your equations to the particulars of this problem. c) Solve the two equations for the firm’s optimal choice. Show your work. d) Determine this firm’s minimum cost of producing 16 units. e) Determine this firm’s cost function C(Q). Neatly show your work.

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.