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Question: given a cobbdouglas production function q l03k07 subject to a...

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Given a Cobb-Douglas production function Q L03K0.7, subject to a cost constraint of 150 with the price of labour 3 and the price of capital 5. a) b) c) Find the values of L and K for which production is maximised. What is the maximum level of production possible subject to the constraint? What is the maximum level of production possible with no constraint?

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