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A firm's production function is Q=K^0.2 L^0.8 The level of capital is fixed at 32. The price of capital is r=10 and the price of
A firm's production function is
Q=K^0.2 L^0.8
The level of capital is fixed at 32. The price of capital is r=10 and the price of labour is w=8.
a.Please derive the short run cost function for this firm. b.Please derive the short run supply function for this firm.
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