Question: Suppose that a firm had a production function given by: q=L^0.25*K^0.75. The wage rate (w) is $4and the rental rate (r) is $20. Calculate the

Suppose that a firm had a production function given by: q=L^0.25*K^0.75. The wage rate (w) is $4and the rental rate (r) is $20. Calculate the amount of labor the firm would hire when it produces 450units of output in a cost-minimizing way

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