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Puan A firm produces a good by using a Leontief production function which is given by q= f(KL) = min{21,5K). The wage rate of labor
Puan A firm produces a good by using a Leontief production function which is given by q= f(KL) = min{21,5K). The wage rate of labor is w=3 TL and the rental rate of capital is v = 4 TIA and the firm wants to produce q = 100 units of output. What is the total cost C(3,4;100) of this firm? A) 300 TL D) 290 TL C) 230 TL OD) 400 TL
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