Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you show how to solve this? A firm has production function X = KL1/2. In the short run it must use 35 units of

Can you show how to solve this?

image text in transcribed
A firm has production function X = KL1/2. In the short run it must use 35 units of K. The price of labor is $105 and the price of capital is $3. The firm's short run marginal cost function is: a. MC = 105X-1/2 b. MC = 6X/35 C. MC = 105 + 105X2 d. MC = 3X e. MC = 35X-1/2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Theory Of Moral Sentiments

Authors: Adam Smith, D D Raphael

1st Edition

0865970122, 9780865970120

More Books

Students also viewed these Economics questions

Question

write about your research methods.

Answered: 1 week ago