Suppose the production of airframes is characterized by a CES production function Q (L K)2 The marginal products for this production function are MPL (L K)L and MPK (L K)K Suppose that the price of labor is $10 per unit and the price of capital is $1 per unit Find the cost minimizing combination of...

The tangency condition implies Given that and this ...

Suppose the production of airframes is characterized by a CES production function: Q = (L + K)2.

Question:

Suppose the production of airframes is characterized by a CES production function: Q = (L½ + K½)2. The marginal products for this production function are MPL = (L½ + K½)L−½ and MPK = (L½+ K½)K−½. Suppose that the price of labor is $10 per unit and the price of capital is $1 per unit. Find the cost-minimizing combination of labor and capital for an airframe manufacturer that wants to produce 121,000 airframes.