Suppose that a firm's production function is: a = 3L * K ^ 0.5 The cost of capital is $30/unit; the cost of labor is $20/unit. What is the minimum cost of producing q = 243 ?
Suppose that a firm's production function is: a = 3L * K ^ 0.5 The cost of capital is $30/unit; the cost of labor is $20/unit. What is the minimum cost of producing q = 243 ?
Chapter22: Supply: The Costs Of Doing Business
Section: Chapter Questions
Problem 16E
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Suppose that a firm's production function is: a = 3L * K ^ 0.5 The cost of capital is $30/unit; the cost of labor is $20/unit. What is the minimum cost of producing q = 243 ?
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