What is the total cost of producing 100 units of output?

Suppose you are given the following production function Q = K1/3 L1/3

Suppose you are given the following production function Q = K1/3 L1/3. Given that the firm wishes to produce 100 units of output, what input combination should it choose to minimize its total cost given that w = r = $10? What is the total cost of producing 100 units of output?

 

Answer

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