A firms production function is Q = 100L .6 K .4 . The firms input prices are

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A firm’s production function is Q = 100L^.6 K^.4. The firm’s input prices are PL = $30 and PK = $40. The firm wishes to produce 2,000 units of output and minimize the cost of production. How much labor (L) and capital (K) should the firm employ?

	A.	L=20.0, K=12.5.
	B.	L=22.4, K=13.4.
	C.	L=25.0, K=15.0.
	D.	L=26.39, K=13.2.
	E.	L=32.5, K = 26.2.

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Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Posted Date: Dec 08, 2020 06:30 PM

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A firms production function is Q = 100L .6 K .4 . The firms input prices are

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