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Combination of inputs that minimizes the cost of producing

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Suppose that Q = K1/2L1/2, w = $2 and r = $2. The combination of inputs that minimizes the cost of producing 2000 units and the total cost are:

a. K* = L* = 2000, TC = $8,000

b. K* = L* = 1000, TC = $6,000

c. K* = L* = 1000, TC = $5,000

d. K* = L* = 2000, TC = $2,000

e. More information is required to answer this question

Reference no: EM132152044

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