Here is all of the relevant info. Looking to solve for C(8) in problem PS5.3.3
Kendall Square Inc makes and sells ramen to the large number of students around MIT. Kendall Square Inc uses the production function F (K, L) = (K + 2L) . Input prices are w = 2 and r = 3 for labor and capital respectively. It operates in a perfectly competitive environment facing a price p = $48, and uses an initial amount of capital K - 12. Compute the firm's short-run cost function. To verify that you have the correct short-run cost function, calculate the short-run cost of producing 8 units of ramen. C (8) = 536 536 Submit You have used 1 of 2 attempts Save Show answer Problem PS5.3.2 1.0/1.0 point (graded) What is the optimal output level for Kendall Square, Inc in the short run? 4 What are its profits? 7= 104 104 Submit You have used 1 of 2 attempts Save Show answer1/1 point (graded) Kendall Square Inc makes and sells ramen to the large number of students around MIT. Kendall Square Inc uses the production function F ( K, D) = (K + 21) . Input prices are w - 2 and r = 3 for labor and capital respectively. It operates in a perfectly competitive environment facing a price p = $48, and uses an initial amount of capital K - 12. Compute the firm's short-run cost function. To verify that you have the correct short-run cost function, calculate the short-run cost of producing 8 units of ramen. C(8) = 536 536 Submit You have used 1 of 2 attempts Save Show answer Problem PS5.3.2 1.0/1.0 point (graded) What is the optimal output level for Kendall Square, Inc in the short run? 4 4 What are its profits? 7= 104 104 Submit You have used 1 of 2 attempts Save Show answer Problem PS5.3.3 1 point possible (graded) Compute Kendall Square Inc's long-run cost function. To verify that you have the correct long-run cost function, calculate the long-run cost of producing 8 units of ramen. C (8) =