Question: For a firm with the production function Q (K, L) = 3 ln K + 2 ln L, find the optimal ratio of capital to
For a firm with the production function
Q (K, L) = 3 ln K + 2
ln L, find the optimal ratio of capital to labor if the price of capital is 4 and the price of labor is 6.
Step by Step Solution
3.55 Rating (169 Votes )
There are 3 Steps involved in it
Optimality requires MP L M... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
363-B-E-M-E (3624).docx
120 KBs Word File
