production function is given by: (L)% .The price of labor (w) = 8 and priceof ' _

Suppose the production function is given by: Q \ (K) 2 (L) i The price of labor (w) = 8 and price of capital (r) = 300. In the short-run, capital is fixed at K = 1. The short-run cost function C(Q) is given by: 0 300 + 8L 300 + 512(QA3) 0 2400 0 45000