Micro economics question please?

  • Thread starter Thread starter Randy S
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Randy S

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In a production function q = 5KL
where k is capital units and L is labour units and the cost of units of capital is 4 Dollars

question

1. compute the Cost Minimising units
of capita and labour to produce 40 units of output

2. the firm now wants to expand to 90 units.
if capital is fixed in the short run , how many units of labour will the firm require.
3. compute the firms cost minimising unts of labour and capital to produce an output level of 90 units.
The cost of a unit of labour is 2 dollars
 
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