Business
Business, 05.11.2020 18:40, esanchez2002fcb

Consider the following production function:. q = 100 L^0.8 k^0.4
Currently the wage rate (w) is $1.00 and the price of capital (r) is $2.00.
If the firm is using 200 units of capital in production, how much labor should be employed to minimize costs?
(Enter a numeric response using a real number rounded to two decimal places.)

answer
Answers: 3

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Consider the following production function:. q = 100 L^0.8 k^0.4
Currently the wage rate (w)...

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