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Suppose for a particular production function, the cost-minimizing levels of labor and capital are L=0.1Qr 0.5 w -0.5 ,K=0.1Qr -0.5 w 0.5 . If r=5
Suppose for a particular production function, the cost-minimizing levels of labor and capital are
L=0.1Qr0.5w-0.5,K=0.1Qr-0.5w0.5.
If r=5 and w=20, what is the equation for long-run total cost?
4Q
2Q/10
2Q/5
2Q
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