Chapter 15, section 15.3, question 023 a cobb-douglas production function p(k, l) and budget b(k, l) are given, where k represents capital and l represents labor. use lagrange multipliers to find the values of k and l that minimize budget given a production constraint. then give the value for 2 and choose its correct meaning. minimize budget: b = 4k + l production constraint: p = k1/2112 = 180 the values that minimize budget are k = number and l = number the value of l is number the value of a tells us that o for one extra unit increase in budget, we get an increase of 1/2 units in production. o for one extra unit increase in budget, we get an increase of 2 units in production. o for one extra unit increase in production, we get an increase of 1/2 units in budget. o for one extra unit increase in production, we get an increase of 1 units in budget.