Question #111463
Q=100K^0.5L^0.5,C*=100,w=30,r=40,determine the amount of capital and labour required to maximum output.what is the maximum output?
1
Expert's answer
2020-04-24T11:05:26-0400

The output is maximized when:

MPL/MPK=w/r=K/L,MPL/MPK = w/r = K/L,

K/L = 3/4,

Q = 75L.


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