question archive Suppose a firm faces the production function Q = 0
Suppose a firm faces the production function Q = 0
Subject:EconomicsPrice:0 Bought3
Suppose a firm faces the production function Q = 0.8 K0.4 L 0.3. It sells its output at a fixed price of 450 Birr a unit and can buy K and L at 15 Birr per unit and 8 Birr per unit respectively. Then what input mix will maximize profit?
