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Suppose that firms are using 3 units of K and 5 units of L in fixed proportion, what would be the cost function at equilibrium?
Suppose that firms are using 3 units of K and 5 units of L in fixed proportion, what would be the cost function at equilibrium?
a) 5rwQ + 3Q
b) 2wrQ
c) (3w + 5r)Q
d) (5w + 3r) Q
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