Question: Consider a firm with a Cobb-Douglas production function: and let prices bew = 2andr = 1 The firm's long run cost minimization problem is: ,

Consider a firm with a Cobb-Douglas production function: and let prices bew = 2andr = 1 The firm's long run cost minimization problem is: , s.t. The relationship between labor and capital in terms of K = 2L A. Solve for the long-run level of labor as a function of

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