Ashley is a college professor who has recently graduated with her PhD and has no kids. At her first job, the University offers her the benefit of waiving tuition for her children to go to school there. Their incentive lacks for her. a.meritb. valancec. instrumentalityd. expectancy

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?