George produces computer software (user friendly). His firm's production function is Q=1K+2L,
where Q is the programs, K is capital employed, and L is the labour used. If George faces factor
prices of Pk=6 and PI=6, the cheapest way to produce Q=60 is: Part 1: By using how many units
of capital? Part 2: By using how many units of labour? If George faces factor prices of Pk=8 and PI
=24, the cheapest way to produce Q=60 is Part 3: By using how many units of capital? Part 4: By
using how many units of labour?.
George produces computer software user friendly His firm.pdf
1. George produces computer software (user friendly). His firm's production function is Q=1K+2L,
where Q is the programs, K is capital employed, and L is the labour used. If George faces factor
prices of Pk=6 and PI=6, the cheapest way to produce Q=60 is: Part 1: By using how many units
of capital? Part 2: By using how many units of labour? If George faces factor prices of Pk=8 and PI
=24, the cheapest way to produce Q=60 is Part 3: By using how many units of capital? Part 4: By
using how many units of labour?
