MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 8.W, Problem 5QE
To determine

The distributional consequences of a price support system.

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The production function for a product is given by Q =100KL.if the price of capital is 120 dollars per day and the price of labor 30 dollars per day what is the minimum cost of producing 1000 units of output ?
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MICROECONOMICS

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