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16. Suppose a rnihas the following production metion: Q 2 K L - Ihe marinas] product of capital n this production function is 2L, and
16. Suppose a rnihas the following production metion: Q 2 K L - "Ihe marinas] product of capital n this production function is 2L, and the marginal product of labor is 2K. If capital tents for $10!] per unit per day, labor can be hired for $2013 per unit per day, and the rm is minimizing costs, 21 Find the total cost of producing 60 units of output. h. Suppose you want to determine the cost ofprodueing the more general 9* units of output. Using the same set of procedures. you followed in (a). but a more general Q instead of 60. nd this rnfs total cost function. which eiqiresses total cost as a function of Q. o. Divide the total cost mction you found in (b) by Q to determine this nn's average cost mction
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