Optimal labor-capital values given profit maximization goal
Problem:
Q=10L-.5L2+24K-K2Marginal revenue production function?
Optimal labor/capital values given a profit maximization goal?Price of labor: $40Price Capital: $80Output sells for $10
Now Priced at $20 (50% Discount)
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Marginal revenue production function? Optimal labor/capital values given a profit maximization goal?
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