(Answered) A firms production function is given by fl l12 where l is

Management Studies

A firm's production function is given by F(L)= L^1/2 where L is the only input into production and it is variable in both the short and long run. The marginal product of labor is 1/2L^-1/2. Derived from the production function, L=Q^2.

If the wage rate is w, what are the total cost, average cost, and marginal cost functions?

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Business Management, Management Studies

Category:- Business Management
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