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I didn't know how to write the equations so I took a picture. . For each of the fdlowim fumtions (a-c) answer the folbwing questions
I didn't know how to write the equations so I took a picture.
. For each of the fdlowim fumtions (a-c) answer the folbwing questions 0 Calculate the marginal prcducts Mnand MPk. ii) Catulate M RTS1.k and determine if this is diminishing as good L increases. ii0 If z 50, w 8 and r = 2, long-run cost minimizing combinatim of labor and capital and the associated total cost. iv) It Qo = 50, w = 8 and r 2, determine short-run cost minimizing combination ot labor and capital and the associated total cost if the rm stuck with unit of cGtal in the short run. v) Do we have too much or too little cetal in the short-run, and how much rmney is the rm losing by ing stuck with K = 4 unit of capital the gut-run? (b) K) 2LA(2) + 2+(2). K) 15K. For each of the fdlowim groduction fumtions (a and b) find the following equations 2. C-iii) in terms of Qo, w and r. 0 MRTSI* ii) Long-run cetal and lamr demand curve. ii0 Shcrt-run capital and labor dermnd curve if firm is stuck with 2. (a) Q 41_N1/3) (b)Q-LK+3L
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