Question
Solve clearly.. show your work.. don't copy from internet. 1) Let the production function be as follow: (,)=(^0.5)(^0.5) a. Assume q=3000, what should be the
Solve clearly.. show your work.. don't copy from internet.
1) Let the production function be as follow: (,)=(^0.5)(^0.5) a. Assume q=3000, what should be the optimal L and K. What is total cost of production? b. Assume that q increases to 5000. Calculate L, K and total cost in the short term. Calculate L, K and total cost in the long term.
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Labor Economics
Authors: George J. Borjas
6th edition
73523208, 2900073523209 , 978-0073523200
