Question: Solve the following cost minimization problem: min C =w.L + v.K s.t. LK = Q For: a- The conditional factor demands? (4 points) b- The

Solve the following cost minimization problem:
min C =w.L + v.K s.t. LK¹ = Qº
For:

a- The conditional factor demands? (4 points)

b- The cost function? (3 points)

c- Use Shephard's lemma to recover the conditional factor demands from the cost function you derived in part (b), show that these are the same as the conditional factor demands you derived in part (a)?

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