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The KM Corporation builds widgets in Washington. It combines capital (K) and labor (L) in the...

The KM Corporation builds widgets in Washington. It combines capital (K) and labor (L) in the production function in the following way:

Q(K,L) = K1/3L1/3 Labor cost: w = $8 Capital rental cost: v = $8 KM wants to build 12 homes. What is the cost-minimizing choice of Capital and Labor (Hint: What is the objective function? What is the constraint?)

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