Cobb douglas production function

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A factory that you are managing has an hourly production process that can be represented by 0.5? 0.50 the following Cobb Douglas Production function: Q = 20K? L?

?The price of one unit of capital per hour is $30 or r =30 and the price of one unit of labour per hour is $10 or w = 10. Your total cost should not exceed $1,000. Thus, TC = 1,000. Find the optimal amount of labour and capital that you will be using, and compute the total amount of Q. Include a diagram

Reference no: EM132482008

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