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How much output is produced when k=2 and l=3

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Reference no: EM13325912

A firm produces output according to a production function Q=F(K,L)=min {2K,4L}

a. how much output is produced when K=2 and L=3?

b. if the wage rate is $30 perhour and the rental rate on capital is $10 per hour, what is the cost-minimizing input mix for producing 4 units of output?

Reference no: EM13325912

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