Question: Suppose that a firm had a production function given by: q=L^0.25K^0.75 . The wage rate (w) is $10 and the rental rate (r) is $10

Suppose that a firm had a production function given by:q=L^0.25K^0.75. The wage rate (w) is$10and the rental rate (r) is$10.

Calculate the amount of labor the firm would hire when it produces200units of output in a cost-minimizing way.

(Round to the nearest 2 decimal places if necessary.)

^=exponent

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