Business, 14.11.2019 02:31 dogwisperer101

Suppose a production function is given by f(k, l) = kl2 ; the price of capital is $10 and the price of labor is $15. what combination of labor and capital minimizes the cost of producing any output? to produce a given level of output q, how many units of l and k are needed? express the optimal inputs choices l(q) and k(q) as functions of the level of output q.

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Suppose a production function is given by f(k, l) = kl2 ; the price of capital is $10 and the price...