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Suppose the production function of a firm is = (,) = 5 0.5 0.5 ; = 1$ = 4$. Also suppose in the SR the

Suppose the production function of a firm is = (,) = 5 0.5 0.5 ; = 1$ = 4$. Also suppose in the SR the capital is fixed at 25 units.

a. What is the equation of the LR expansion path?

b. What is the SR total cost of producing 100 units of output?

c. What is the LR cost of producing 100 units of output?

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