Question: Expenditure minimization: set-up .Use the Lagrange multiplier method to set up 3 equations in 3 unknowns, where your objective is to minimize expenditures M, given

Expenditure minimization: set-up.Use the Lagrange multiplier method to set up 3 equations in 3 unknowns, where your objective is to minimize expenditures M, given the functions wL + rK = M(L,K) and q = k^0.5L^0.5 + L, where: w = 12, r = 3, q = 36.

L =

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