What is the least cost input combination
Problem: If input prices are w = 3, and r = 2, and q = 10KL, what is the least cost input combination required to produce 60 units of output? How would input usage change if output is increased to 240 units?
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If input prices are w = 3, and r = 2, and q = 10KL, what is the least cost input combination required to produce 60 units of output?
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