Business, 18.09.2019 09:30, liamcareycarlisle
Anation’s automakers install new robotic machinery to build cars. as a result, cars take only a day to make, and the factories can produce many more cars than before. this is an example of growth caused by
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(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?
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Anation’s automakers install new robotic machinery to build cars. as a result, cars take only a day...
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