Suppose that 3m has the production function qkl and the, Econometrics

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Suppose that 3m has the production function qkl and the

Suppose that 3M has the production function q=KL, and the input prices are given by r=$2, w=$3. The 3M wants to produce 600 unit of output and minimize cost of production.
(a) What amounts of capital and labor inputs should be used by the 3M?
(b) What is the minimum cost of production?

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Econometrics: Suppose that 3m has the production function qkl and the

Reference No:- TGS0578364

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