.A firm estimates its production function as Q = -2.4 + 20L -.5L2 + 30K -1.00K2 +...

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.A firm estimates its production function as Q = -2.4 + 20*L -.5*L2 + 30*K -1.00*K2 + 15*F -.3*F2. Total cost is TC = $2*L + $2.5*K + $.75*F. The firm wishes to produce 400 units of output. Find the cost minimizing amounts of L, K and F.?

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Financial management theory and practice

ISBN: 978-1439078099

13th edition

Authors: Eugene F. Brigham and Michael C. Ehrhardt

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Posted Date: Dec 08, 2020 02:28 PM

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.A firm estimates its production function as Q = -2.4 + 20*L -.5*L2 + 30*K -1.00*K2 +...

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Financial management theory and practice

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.A firm estimates its production function as Q = -2.4 + 20L -.5L2 + 30K -1.00K2 +...