###### Labor economics essay about dynamic Labour Supply (Retirement): The government has recently become concerned about gender gap in retirement(pension)…
September 3, 2020
###### Two boxers, Brutus and Floyd, are training to fight each other. Each boxer is considering whether to take steroids to improve his chance of winning…
September 3, 2020

ECO 420K

1. Indicate whether each of the following statements is possibly true or certainly false.  Explain

a) The cost-minimizing bundle for y = 50 is l = 10 and K = 40 if labor and capital cost the same, and is l = 12 and K = 37 when labor costs \$20 and capital costs \$15. (1 point)

b) The cost-minimizing bundle for y = 50 is l = 10 and K = 40 if labor and capital cost \$12, and is l = 15 and K = 33 when labor costs \$10 and capital costs \$15. (1 point)

Running Head: COST MINIMIZATION Cost MinimizationNameInstitution 1 COST MINIMIZATIONa.) The cost-minimizing bundle for y = 50 is l = 10 and K = 40 if labor and capital cost thesame, and is l =…