Determine the optimal quantity of each input per unit

Reference no: EM13236623

a) Suppose the inputs in problem 5 can be purchased at the same price per unit. Will production be relatively labor intensive or capital intensive? Explain.

b) Suppose input prices are PL= 40 and PK = 80 and the price of output is 10. Determine the optimal quantity of each input.

Reference no: EM13236623

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