What is the total cost of the optimal bundle

Reference no: EM133442253

Assume a firm's production function is given by: Q=F (L, K) = L 1/4K 3/4 The wage for L is w and the rental rate for K is r. The firm will produce Q units of output.

Now suppose that we know that w=1, r=3 and Q=16. Solve the optimal bundle (L and K).

What is the total cost of the optimal bundle?

Reference no: EM133442253

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