Suppose a firm has the following production function: Q(L, K)=4K1/2L1/2 Recall that the isocost line is as follows: C=wL+rK What is the (long run) optimal choice of L and K for a given Q, w, and r? In other words, provide a formula for the optimal choice of labor L∗(w, r,Q) and capital K∗(w, r,Q) as a function of the parameters Q, w, and r. Given Q=16, w=4, and r=1, what are the optimal levels of labor and capital, L∗ and K∗? What is the cost of producing Q=16 at these input prices? Suppose now that you are in the short run, Q=16, w=4, r=1, and the capital level is fixed at K¯=16. What is the optimal level of labor in the short run? What is the cost of producing Q=16 in the short run at these input prices?

All mathematical operations can be performed on ratio data. a. true b. false

Adebit card is also know a( a) cash card b) credit card c) gift card d) atm card

Ds unlimited has the following transactions during august. august 6 purchases 58 handheld game devices on account from gamegirl, inc., for $140 each, terms 2/10, n/60. august 7 pays $340 to sure shipping for freight charges associated with the august 6 purchase. august 10 returns to gamegirl three game devices that were defective. august 14 pays the full amount due to gamegirl. august 23 sells 38 game devices purchased on august 6 for $160 each to customers on account. the total cost of the 38 game devices sold is $5,448.51. required: record the transactions of ds unlimited, assuming the company uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. round your answers to 2 decimal places.)