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Answer to Question #42157 in Microeconomics for adura

Question #42157

Suppose a productiin function is given by Q=KL2, and that the price of labor is $15 and the price of capital $10.
A. What combination of labor an d capital minimizes the cost of producing any given output?
B. Formulate the dual problem and solve it. Use substitution, equal slopes, and lagrange to solve the problem.

Answer to Question #42157 in Microeconomics for adura

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