Question: A firm has a cost function c(1, k) = 51 + 7k. The firm has a production function p(l, k) = 10.3k0.6. Write down the

A firm has a cost function c(1, k) = 51 + 7k. The firm has a production function p(l, k) = 10.3k0.6. Write down the Lagrange equation where the firm produces 1000 units and calculate the first order conditions

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