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A firm produces dog cones with two variable inputs labour (L)and plastic (K)-and has the following production

By December 6, 2021No Comments

A firm produces dog cones with two variable inputs labour (L)and plastic (K)-and has the following productionfunction:f(L,K)=6L3K6If the price of output is 4,the price of labour is $2 and the price of plastic $3,calculate the profit-maximizing level ofeach input,the total production,as well as profit.

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