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Economics

find the levels of labor and capital that maximize the level of output for a total outlay of 240 birr

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 17SQ

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If the production function of a firm is given by Q=K^2L^3 and the input prices are r= 8 per unit and w= 2 per unit find the levels of labor and capital that maximize the level of output for a total outlay of 240 birr?

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