The production of tennis shoes takes the following form: Q = 3(KL) 1/3 price of capital (K)=

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The production of tennis shoes takes the following form: Q = 3(KL)^1/3

price of capital (K)= $120 per day
price of labor = $30 per day
If the price of a tennis shoes is $50 per pair, what is the optimum combination of K and L that maximizes profit or minimizes loss?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Mar 01, 2024 10:15 PM

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The production of tennis shoes takes the following form: Q = 3(KL) 1/3 price of capital (K)=

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Income Tax Fundamentals 2013

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