Suppose a Firm's Technology Is Represented by the Cobb-Douglas Production

question 32

Essay

Suppose a firm's technology is represented by the Cobb-Douglas production function F(L,K)= 5LK.The wage rate is $50 and the rental rate of capital is $10.What is the least-cost combination to produce 100 units of output?

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Fetal Alcohol Syndrome

A condition in a child that results from alcohol exposure during the mother's pregnancy, causing growth problems, facial abnormalities, and cognitive deficits.

Cognitive Abnormalities

Irregularities in processing information that can include difficulties in learning, memory, perception, and problem-solving.

Pregnant

The state of carrying a developing embryo or fetus within the female body.

Human Personality

The characteristic set of emotional, cognitive, and behavioral patterns that are stable over time and across situations in an individual.