(3 marks) Let Q = 600 minimum (L/2, 4K) w = 50, r = 100 a.) (1) Find the cost function. b.) (2) Say w
(3 marks) Let Q = 600 minimum (L/2, 4K) w = 50, r = 100 a.) (1) Find the cost function. b.) (2) Say w = r = 60, and assume a budget of $540 to buy labour and capital. What level of output can be produced
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