107 823
Assignments Done
100%
Successfully Done
In March 2025
In March 2025
Your physics assignments can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Physics
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Math
Our experts will gladly share their knowledge and help you with programming projects. Keep up with the world’s newest programming trends.
Programming
Answer to Question #73356 in Microeconomics for Tayyaba
Question #73356
Find the equilibrium of L and K subject to a given output:
minimize cost: C=40K+20L subject to Q=60LK = 3000
minimize cost: C=40K+20L subject to Q=60LK = 3000
Expert's answer
C=40K+20L subject to Q=60LK = 3000
Q=60LK = 3000 , LK =50, then C = 40K + 20L = 40*5 + 20*10=400, L = 10, K=5
Q=60LK = 3000 , LK =50, then C = 40K + 20L = 40*5 + 20*10=400, L = 10, K=5
Learn more about our help with Assignments: Microeconomics
Comments
Can someone kindly explain the below concept further please C=40K+20L subject to Q=60LK = 3000 Q=60LK = 3000 , LK =50, then C = 40K + 20L = 40*5 + 20*10=400, L = 10, K=5
Dear Sultan, To find minimum for Cost we need to solve equation like dC/dK=0 with respect to L=K/50. It will give as the answer K=5. Then L=10
Please explain from where the 5 and 10 came from plz tell answer in details 40*5 + 20*10=400, L = 10, K=5
Leave a comment