Given the production function Q=100 L.K and cost budget=1000JD ; w (price per unit of labor)=8;r (price per unit of capital) =1. find the optimal quantity of capital? a. 500 units b. 40 units Oc. 100 units d. 62.5 units
Given the production function Q=100 L.K and cost budget=1000JD ; w (price per unit of labor)=8;r (price per unit of capital) =1. find the optimal quantity of capital? a. 500 units b. 40 units Oc. 100 units d. 62.5 units
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Given the production
function Q=100 L.K and
cost budget3D1000JD ; w
(price per unit of labor)=8;r
(price per unit of capital) =1.
find the optimal quantity of
capital?
Oa. 500 units
b. 40 units
Oc. 100 units
d. 62.5 units](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7940f44a-f592-4c41-817c-ba9e79084bbc%2Fbc0aa1e7-f1c9-4832-963e-59d67047bc36%2F8mpd238_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Given the production
function Q=100 L.K and
cost budget3D1000JD ; w
(price per unit of labor)=8;r
(price per unit of capital) =1.
find the optimal quantity of
capital?
Oa. 500 units
b. 40 units
Oc. 100 units
d. 62.5 units
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