Question: QUESTION 23 A wheat farmer has a production function of q = VKL = 10.50.5 with marginal products MPL = 0.540.51-0.5 = 0.5 K T

QUESTION 23 A wheat farmer has a production function of q

QUESTION 23 A wheat farmer has a production function of q = VKL = 10.50.5 with marginal products MPL = 0.540.51-0.5 = 0.5 K T MPK = 0.5K-0.510.5 = 0.5, L K Calculate the cost-minimizing amount of capital to produce 300 units of output if the wage rate is 12 and the user cost of capital is 3

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QUESTION 23 A wheat farmer has a production function of q = VKL = K0.5/ 0.5 with marginal products MPL = 0.540.51-0.5 = 0.5, K L MPK = 0.5K-0.510.5 = 0.5, L K Calculate the cost-minimizing amount of...

A wheat farmer has a production function of = KL = 10.5/ 0.5 with marginal products MPL =0.540.51 -0.5 =0.5 K L MPK = 0.5K-0.510.5 =0.5 L

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