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Q1 If input prices are w = 4, and r = 1, and q = 4K0.5L0.5, what is the least cost input combination required to produce
Posted: Wed Jul 06, 2022 5:55 am
by answerhappygod
- Q1 If Input Prices Are W 4 And R 1 And Q 4k0 5l0 5 What Is The Least Cost Input Combination Required To Produce 1 (50.44 KiB) Viewed 16 times
Q1 If input prices are w = 4, and r = 1, and q = 4K0.5L0.5, what is the least cost input combination required to produce 40 units of output? What is the minimum cost? Suppose instead that capital was fixed at 16 units. What would be the implications for labor usage and total cost? Suppose the government, in an effort to increase employment, offers firms in this industry a $2 per unit subsidy. How would this affect input usage (assume q = 60)?