Exercise 21.1 A firm has weekly production function q(k, 1) = k!/471/2, and the unit weekly costsfor capital and labour are v =good. Find the minimum cost of doing so.20 and w =10. The firm wishes to produce 200 units a week of its

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Exercise 21.1 A firm has weekly production function q(k, 1) = k/471/2, and the unit weekly costs for capital and labour are v = 20 and w =10. The firm wishes to produce 200 units a week of its good. Find the minimum cost of doing so.

Exercise 21.1 A firm has weekly production function q(k, 1) = k/471/2, and the unit weekly costs for capital and labour are v = 20 and w =10. The firm wishes to produce 200 units a week of its good. Find the minimum cost of doing so.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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