Suppose a firms production function is given by Q= L^1/2 * K^1/2.The marginal product of labor and the marginal product of capitalare given by:
MPL= K^1/2 /2L^1/2 and MPk= L^1/2/2K^ 1/2.
Suppose the price of labor is w=24 and the price of capital is r=6.Derive the firms total cost function.

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Ritu KharbLv5

28 Sep 2019

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