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The cost minimizing demand for labor is and that for capital is where w and r denote wage ...........

Economics-I Theory of Production and Cost

The cost-minimizing demand for labor is

$L=\frac{Q}{50}\sqrt{\frac{r}{w}}$

and that for capital is

$K=\frac{Q}{50}\sqrt{\frac{w}{r}}$

where w and r denote wage and price of capital respectively. Find the production function. (5 Marks) (100 words)

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