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(For this question you have 6 attempts - You may think of this as having 3 attempts for each subpart) Consider a firm with a

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(For this question you have 6 attempts - You may think of this as having 3 attempts for each subpart) Consider a firm with a Cobb-Douglas production function: F(L,K)=L21K21 The the short run, the firm's capital is fixed at K. LFK(q)= b. Suppose capital is fixed at K=4. Wages are w=2, rental rate of capital is r=3, and the firm must produce q=8 units of output. Calculate variable, fixed, and total costs. VC=1

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