How much units of labour will he hire if he wants to miminize his total costs? 1587,4 839,95 3000 515,23

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.5P
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QUESTION 2

The total production of a good y is determined by the production function y = 3L2/3K1/3, where L is labour input and K capital input.
The reward (factor prices) for labour and capital are, l = 27 en r = 2, respectively.
The producer needs to produce 9000 units of good y.

How much units of labour will he hire if he wants to miminize his total costs?
1587,4
839,95
3000
515,23
 
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