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Suppose that a firm's production function is q = 2(K0'5 + L05). The price of labour is 1 and the price of capital is 1.

Suppose that a firm's production function is q = 2(K0'5 + L05). The price of labour is 1 and the price of capital is 1. The firm's longrun cost function is O a C : 2q0.5 O b' C = (12/16 0 C C = 2q 0 d-C=q2/8

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