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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) =

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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(g) = 11 25 O TC(g) = 25 11 O TC(g) = 25 11QUESTION 9 A / w 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? O L= 4 K= - 11 11 O K = . 11 OL = 119-, K= 1192 O L=4.8, K=4.8

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