In some markets, the government regulates the price of utilities so that they are
not priced out of the range of people's ability to pay. this is an example of alan
oo oo
a. equilibrium control
b. antitrust act
c. price floor
d. price ceiling

(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?