Business

Ezequiel Peterson

1 May, 14:05

Use the production function: Q = 4L1/2K1/2. Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much labor will be hired to minimize the costs of producing 200 units of output? a. 100b. 25c. 200d. 50e. none of the above

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