What is the total cost producing widgets

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The production function for widgets is given by 16L^1/4K^1/4. The price of labor (w) is $30 and the price of capital (r) is $30.?

What is MPL, MPK, APL, APK?

How much labor and capital would be required to minimize the cost of producing 200 widgets?

What is the total cost producing 200 widgets?

Reference no: EM131083563

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