Suppose that firm has a production of the form q= \(K^{1/2}L^{1/2}\)
a. Find the firm's marginal production function exhibit diminishing marginal returns to labor? explain
b. Capital is r=$5 per unit and that labor costs w=$20 per unit. What is the cost of producing q=100 units of K and 100 units of L?
c. What is the minimum cost of producing q=100 (r=5, w=20)