A firm with a production function Q = KL (where K is units of capital and L is units of labor) has an expansion path that is given by K = 2L. The wage rate (W) is $20 and the rental on capital is $10. 
Assuming that the firm is using the optimal mix of inputs for any given output level, the total cost when using four units of labor is $____.
Definitions:
Insolvent
A financial state where an individual or entity cannot meet their financial obligations as debts become due.
Fully Liable
A term indicating that an individual or entity is completely responsible for the full extent of liabilities or damages in a legal situation.
Charitable Organization
A nonprofit entity that operates to provide relief to the poor, advance education, or undertake other activities serving the public interest.
Partnership
A business organization in which two or more individuals manage and operate the business in accordance with the terms and objectives set out in a Partnership Agreement.
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