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QUESTION
Use the following production function to answer the question: Q = 4L1/2K1/2Suppose that the price of labor is $2 and the price of capital is $18.
Use the following production function to answer the question: Q = 4L1/2K1/2Suppose that the price of labor is $2 and the price of capital is $18. How much capital willbe hired to minimize the costs of producing 60 units of output? a. 1b. 5c. 10d. 45e. none of the above
