Question
2. (18 total points)For each of the following situations, Find the Total Cost function, TC(q) Identify the optimal input mix, L* and K* for the
2. (18 total points)For each of the following situations,
- Find the Total Cost function, TC(q)
- Identify the optimal input mix, L* and K* for the given q.
B) q = 3L + 9K; w = 5, r = 12;
i) (5 points)
TC(q) = __________________
ii) (4 points) q = 15
L* = _________________
K* = _________________
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Business Driven Technology
Authors: Paige Baltzan
5th edition
978-007337684, 9780077419318, 73376841, 77419316, 978-0073376844
