How much labor will be hired to minimize costs of producings

Reference no: EM13214497

Your firm's the production function: Q = 4K^1/2L^1/2 Suppose that the price of labor is $5 and the price of capital is $20. Your firm desires to produce 200 units of output. How much labor will be hired to minimize the costs of producing 200 units of output?

Reference no: EM13214497

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