Question 5 3 pts Kalamkari Bearings manufactures ball bearings with two factors of production, capital (k) and labor (1) and the production function q = 16(kl)/. Its short run capital stock is fixed at k = 16. The rental rate for capital is v = 162, and wage rate for labor is w = 256. What is Kalamkari Bearing's short-run total cost curve? (a) STC(q) = 2376 + 3q'/2 8 (b) STC(q) = 2844 + 9 8 (c) STC(q) = 2732 + 9" 12 (d) STC(q) = 2592 + 9" 4 The correct answer is option [Select ] What is the short-run average cost? (a) SAC(q) = 2844 + Vi (b) SAC(q) = 2592 + 4 (c) SAC(q) = 2376 + 3vq 8 (d) SAC(q) = 2732 + 12 The correct answer is option [ Select ] What is the short-run marginal cost? (a) SMC(q) = 16 3 va (b) SMC(q) = V (c) SMC(q) = 9v/9 16 (d) SMC(q) = - 3vq 8 The correct answer is option [ Select ]Now, express STC in terms of the parameters v, w, q, and k. (a) STC = vk + "v (b) STC = vk + 7wq3/2 32k 16k (c) STC = vk + wq3/2 (d) STC = vk + wq"/2 64k 32k The correct answer is option [Select ] Given the STC above, what is the k what minimizes total costs? (a) k = gl/4 8 (b) k = (c) k = TW (d) k 1/4 4v Au The cost-minimizing level of & is option [ Select ] Given k as above, what is the minimized long run total cost? (a) C = = Vow (b) C = = Vvwq (c) C = A (d) c = 4 Vvwq The answer is option [Select ]