What values cost-minimizing firm use for both labour-capital, Microeconomics

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What values cost-minimizing firm use for both labour-capital

A manufacturing firm's production function is Q = KL + K +L. For this production function, MPL = K + 1 and MPK = L + 1. Suppose that the price r of capital services is equal to 1, and let w denote price of the labour services. If the firm is required to produce 5 units of output, for what values of w would a cost-minimizing firm use

a) only labour?
b) only capital?
c) both labour and capital?

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Microeconomics: What values cost-minimizing firm use for both labour-capital

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Microeconomics: What values cost-minimizing firm use for both labour-capital

Reference No:- TGS047181

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Recent Questions Asked Microeconomics

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Microeconomics: What values cost-minimizing firm use for both labour-capital

Reference No:- TGS047181

Recent Questions Asked Microeconomics

Q : What is lou''s recognized gain or loss on this exchange

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