A firms production function is Q = 80L.4 K.6. The firms input prices are PL = $30

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A firm’s production function is Q = 80L.4 K.6. The firm’s input prices are PL = $30 and PK = $50. The firm wishes to produce 3,000 units of output and minimize the cost of production. How much L should the firm employ?

A.20.51.

B.25.42.

C.30.25

D.39.95

E.46.45.

Related Book For answer-question

Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Posted Date: Dec 08, 2020 02:33 PM

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A firms production function is Q = 80L.4 K.6. The firms input prices are PL = $30

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Mathematics for Economics and Business

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