Suppose that a firm's fixed proportion production function is given and rental rate of capital (r) and
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Question:
Suppose that a firm's fixed proportion production function is given and rental rate of capital
(r) and labor (w). Calculate the firm's long run total, average and marginal cost curves q=
min (0.5 k, 0.25L) where r=20 and w=10.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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