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Suppose that a firm had a production function given by q-21 K The rental rate for the fim is $10 and the wage is s5 Solve the optimization condition for K and then fill in the value that appears in front of L K- Round to the nearest 2 decimal places if necessary.)
Suppose that a firm had a production function given by q-L025k075. The wage rate (w) is $10 and the rental rate () is $10 Calculate the amount of labor the firm would hire when it produces 200 units of output in a cost-minimizing way Round to the nearest 2 decimal places if necessary) Ans
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