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QUESTION
Give Q= 10L^1/4 K^1/4 P constant= 10, w constant=25, r constant=6.
Give Q= 10L^1/4 K^1/4P constant= 10, w constant=25, r constant=6.25Solve for profit maximizing K & L
Give Q= 10L^1/4 K^1/4P constant= 10, w constant=25, r constant=6.25Solve for profit maximizing K & L. Solution:We can define the profit as:π = PQ – C ------- (1); where C is the cost...