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Suppose the firm's production function is Q = K 1/3L 2/3 . a. If the rental...

Suppose the firm's production function is Q = K 1/3L 2/3 . a. If the rental rate of capital R = $30 and the wage rate W = $40, what is the cost-minimizing capital-to-labor ratio? b. If the rental rate of capital R is $35 and the wage rate W is $70, how many units of labor and capital should the firm use to produce 12 units of output?

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