*3.8 What is the long-run cost function for a fixedproportions production function for which it takes two...

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*3.8 What is the long-run cost function for a fixedproportions production function for which it takes two units of capital and one unit of labor to produce one unit of output as a function of the wage, w, and the price of capital, r? What is the cost function if the production function is q = L + 2K? (Hint: See Q&A 6.3.)

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Managerial Economics And Strategy

ISBN: 9780135640944

2nd Global Edition

Authors: Jeffrey M. Perloff, James A. Brander

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