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{"ops":[{"insert":"A firm wants to minimize the cost of producing 40units of output. Given wage as to be $36 and price of capital as $4. Output is produced according to the Cobb Douglas production function Q= VLK"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"i. Find the unit of input (labour and capital) the producer will use to minimize the cost of producing the given output"},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":""},{"insert":"\n"},{"insert":"ii. Find the total cost of producing the given output"},{"insert":"\n"}]}
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