Question
You work for a business with production function q = 2(K^0.5)(L^0.5). The price of capital is 4 and the price of labor is 1. Solve
You work for a business with production function q = 2(K^0.5)(L^0.5). The price of capital is 4 and the price of labor is 1.
Solve for the total cost function, C(q), which represents the least cost way to produce q units of output.
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Managerial Economics
Authors: Mark Hirschey
14th edition
9781473709263, 1473709261, 1473717343, 1473717345, 978-1305506381
