Q = 6LK
w = $3, r = $1.5
The firm would like to know the maximum output that can be
produced for $9,000. Find the combination of inputs that maximizes
output for a cost of $9,000, the amount of output that can be
produced, and identify the expansion path.
Fill in Multiple Blanks
(a) The expansion path is_______ (enter the equation of the
expansion path in the form K = f(L)).
For (b), if rounding is required, round your answer to
the whole number (i.e., do not show the decimal places). Enter the
numerical value only, do not enter any symbols ($, €, %,
(b) The combination of inputs that maximizes output for a cost
of $9,000 is: K = _____ units and L = units, and the
amount of output that can be produced is_______ units.