A Chinese high technology manufacturing firm has a production function of q = 10L 0.28 K 0.64

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A Chinese high technology manufacturing firm has a production function of q = 10L^0.28K^0.64 (based on Zhang et al., 2012). It faces factor prices of w = 10 and r = 20. What are its short-run marginal cost and average variable cost curves?

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Microeconomics

ISBN: 978-0134519531

8th edition

Authors: Jeffrey M. Perloff

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Question Posted: Nov 12, 2018 08:09 AM

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A Chinese high technology manufacturing firm has a production function of q = 10L 0.28 K 0.64

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Let K be fixed in the short run First use the product...View the full answer

Microeconomics

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