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A competitive firm uses two inputs, capital () and labour (), to produce one output, (). The price of capital, k , is $1 per

A competitive firm uses two inputs, capital () and labour (), to produce one output, (). The price of capital, k, is $1 per unit and the price of labor, l, is $1 per unit. The firm operates in competitive markets for outputs and inputs, so takes the prices as given. The production function is (,)=30.25 0.25.

The maximum amount of output produced for a given amount of inputs is =(,) units.

Find the firm's total cost function.

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