For a producer willing to produce 100 units of output at the minimum cost, what is the optimal combination of labor (L), measured in number of workers, and capital (K), measured in units of capital, if his production function is q=LầK} and he pays w $64/hour per worker, and he pays r-$4 for each unit of capital. OA) L-200, K-50 OB) L-50, K-200 OCL-25, K-400 ODIL-400, K-25 O EL-25, K-200

For a producer willing to produce 100 units of output at the minimum cost, what is the optimal combination of labor (L), measured in number of workers, and capital (K), measured in units of capital, if his production function is q=LầK} and he pays w $64/hour per worker, and he pays r-$4 for each unit of capital. OA) L-200, K-50 OB) L-50, K-200 OCL-25, K-400 ODIL-400, K-25 O EL-25, K-200

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.7P

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