A Iqbal production function takes the form: Q = min [5L, 6K]. What are the optimum values for L and K to produce an output level (Q) of 30 units? A. L = 6 and K = 0 B. K = 5 and L = 0 C. K = 5 and L = 6 D. Answer cannot be established without knowing the cost of L and K inputs

Provethatthetechnologyf(L,K)=L2+K2 exhibitsincreasingreturnstoscale. What is the formula for the average product of capital? For the total cost curve TC(q) = q3, prove the technology exhibits decreasing returns to scale

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Find the Total Cost function as a function of q, c, d. A. w and r; and graph it in relationship to q in excel The idea is to solve the following input minimization problem ina general manner: minTC(K, L ) = wL+ rKs. t. q = AK^CL^d Make sure to set - up your spreadsheet by identifying the optimization problem, the endogenous variables, the exogenous variables and the constraint. Make sure also to show a cell that computes TRS and another that computes -w/r.