Question: Consider the same production function Q=20*L*K . Suppose that Pat wants to produce 600.0 meals and no input is fixed. The price of capital is
Consider the same production function Q=20*L*K . Suppose that Pat wants to produce 600.0 meals and no input is fixed. The price of capital is $16. Initially, the price of labor is $16, but then the price of labor increases to $36. How much more does Pat have to pay when the price of labor increases if he still wants to produce 600.0 meals? No units, no rounding
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