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Consider the following production function: q=100L0.8K0.4. Currently the wage rate (w) is $10.00
and the price of capital (r) is $10.00. If the firm is using 200 units of capital in production, how
much labor should be employed to minimize costs? Labor input = units. (Enter a numeric response
using a real number rounded to two decimal places.)

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Consider the following production function q100L08K04 C.pdf

  • 1. Consider the following production function: q=100L0.8K0.4. Currently the wage rate (w) is $10.00 and the price of capital (r) is $10.00. If the firm is using 200 units of capital in production, how much labor should be employed to minimize costs? Labor input = units. (Enter a numeric response using a real number rounded to two decimal places.)