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a) The production function of certain firm is given as
Q = 40 K1/2 L 3/4
A unit of capital and labour costs Kshs 44 and Kshs 36 respectively. The firm would like to maximize output subject to it spending Kshs 5000. Determine the number of units of capital and labour it should hire.
a) Supposing the firm in (a) is set to produce 400 units of the product, determine the number of K and L that the firm should hire so as to achieve this objective.
World Trade Organization: An international economic organization based in Geneva, Switzerland,formed in 1995 which is dedicated to promoting greater trade and investment among its
what will be the effect on price and quantity when supply and demand changes in different directions but same magnitude?
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