Business, 26.02.2022 05:30 tylerwilliams1116
Suppose university officials feel that the price of football tickets at your school is too expensive and decide to limit how much the athletic department can charge for a ticket to a single game.
Answers: 2
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(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?
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