A price-taking firm with q = K1/4L1/4 pays w = 1/8, r = 1/8 and sells at

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A price-taking firm with q = K1/4L1/4 pays w = 1/8, r = 1/8 and sells at p = 3 now w = 1/2. At the initial w = 1/8, r = 1/8 equilibrium the firm will hire L = ________ workers. Provide an Isoquant and Isocost Diagram to illustrate this calculation

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A price-taking firm with q = K1/4L1/4 pays w = 1/8, r = 1/8 and sells at

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