A competitive firm has the production function q flk, Ask an Expert

Economics

A competitive firm has the production function q =f(L,K) =rad(L)+2rad(K) , for which MPl =1/2rad(L) and MPk = 1/rad(K).

a. Find the firm's conditional factor demands for L and K at the factor prices w = 4 and r = 2.

b. What is the firm's (total) cost curve at these factor prices?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91837358

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