- Access to
**800,000+**Textbook Solutions - Ask any question from
**24/7**available

Tutors **Live Video**Consultation with Tutors**50,000+**Answers by Tutors

A firm has a production function Q F K

A firm has a production function Q = F (K, L) with constant returns to scale. Input prices are r = 2 and w = 1. The output- expansion path for this production function at these input prices is a straight line through the origin. When it produces 5 units of output, it uses 2 units of K and 3 units of L. How much K and L will it use when its long- run total cost is equal to 70?

Membership
TRY NOW

- Access to
**800,000+**Textbook Solutions - Ask any question from
**24/7**available

Tutors **Live Video**Consultation with Tutors**50,000+**Answers by Tutors

Relevant Tutors available to help