Given the TC function PKK 1PLL 5TCKL , where the price of capital is 50 and the

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Given the TC function PKK 1PLL 5TCKL , where the price of capital is 50 and the price of labour is 10, what would be the total cost of 12 units of capital and 8 units of labour?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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