If a firms output is produced according to q 4lk the price


If a firm's output is produced according to Q = 4LK, the price of K is $10, and the price of L is $40, what is the cost-minimising combination of K and L capable of producing 64 units of output? The cost-minimising quantity of K is? The cost-minimising quantity of Lis?

Solution Preview :

Prepared by a verified Expert
Business Management: If a firms output is produced according to q 4lk the price
Reference No:- TGS01674098

Now Priced at $10 (50% Discount)

Recommended (96%)

Rated (4.8/5)