For a firm with two variable inputs x kl14 where x is the, Ask an Expert

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For a firm with two variable inputs, X = (KL)^1/4; where X is the level of output; while K and L are the inputs of capital and labour, respectively. The rental rate per unit of capital is $4, and the wage rate per unit of labour is $64.

A) Derive the long-run cost function of the firm.

B) How much will the firm produce if the price per unit of output is $128?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91695876

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