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Needing help solving question 10, Question 9 is probably above question 10. Thank you! Suppose that the wage and rental rate are given by W

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Needing help solving question 10, Question 9 is probably above question 10. Thank you!

image text in transcribed
Suppose that the wage and rental rate are given by W = 10 and / = 15, respectively, and that the production function is given by F(K,L) = (21 3 + 3K 3) What is, rounding to the nearest whole numbers, the cost minimizing level of labor and capital necessary to produce q units of output? OL = 4 K=9 11 11 , K = 92 11 11 OL = 1192, K= 1192 OL =4.8, K=4.8 QUESTION 10 Using your answer from Question 9 above, what would be the firm's cost function for producing a given quantity q? O TQ(q) =9.6 O TQ(q) = 11 25 O TC(q) =

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