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Real-World Applicationshard
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A manufacturing firm uses a production function Q(K,L)=40K0.25L0.75Q(K, L) = 40K^{0.25}L^{0.75}Q(K,L)=40K0.25L0.75. What is the cost-minimizing ratio K/LK/LK/L if r=10r=10r=10 and w=30w=30w=30?