Output for a simple production process is given by Q = 2KL, where K denotes capital,...

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Output for a simple production process is given by Q = 2KL, where K denotes capital, and L denotes labour. The price of capit

Answer 1

Answer #1

Q. 2KL K = 8 unit Q280 unit Price of cepital (r) 2 $25 / unit Prece of lebour (W) = $5/ mit Since Q2 2KL 80 2x8XL [225] [Q280

Answer 2

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