Question: Replace the production function in Solved Problem 7.4 with a Cobb-Douglas q = AL a K b , and use calculus to find the cost

Replace the production function in Solved Problem 7.4 with a Cobb-Douglas q = ALaKb, and use calculus to find the cost minimizing capital-labor ratio?

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The Lagrangian for cost minimization is L wL rK q AL ... View full answer

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