STSTEER

Expenditure Minimization

Finding the cost-minimising labor, capital or total cost to produce a target output.

Question template

In a government agency responsible for monitoring economic indicators, the production of detailed economic forecasts follows the function p func. To meet the required production goal of output forecasts, the agency faces a labor cost of l cost and a capital cost of k cost per forecast. What is the optimal allocation of capital (K) necessary to minimize costs while achieving the production target?

Use it

from datasets import load_dataset
ds = load_dataset("narunraman/steer_me", "cost_minimization_problem")