What is the optimal choice of l and k for the firm, Microeconomics

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What is the optimal choice of l and k for the firm

M&O Construction has the production function Q=6L+36K. The price of capital r=$30.

a) What would the price of labour (w) have to be in order for the firm to choose to use both capital and labour as inputs?

b) Suppose w=6 and target output is 720. What is the optimal choice of L and K for this firm?

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Microeconomics: What is the optimal choice of l and k for the firm

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Microeconomics: What is the optimal choice of l and k for the firm

Reference No:- TGS0510576

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Microeconomics: What is the optimal choice of l and k for the firm

Reference No:- TGS0510576

Recent Questions Asked Microeconomics

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Q : What is the optimal choice of l and k for the firm

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