Asked by sangeeta
Alex and Jessica own a coffee shop near campus. Suppose that their daily production function for workers, L, and capital K, is The wage rate is $100 daily and a unit of capital costs $50 daily. What is Alex and Jessica’s least-cost input combination to make 145 cups of coffee per day? What is their total cost?
Answers
Answered by
bobpursley
You did not include the production function.
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