Suppose that the cost of a unit of capital is r and the, Ask an Expert

Economics

A firm has a production function described as follows: "Weekly output is equal to the square root of the minimum of the amount of capital and the number of hours of labor used per week." Suppose that the cost of a unit of capital is r and the price of a unit of labor is w and the level of output is y. Write down the long-run total cost as a function of w, r, and y.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9445048

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