Suppose the firm chooses this input combination. what is, Ask an Expert

Economics

Suppose the firm’s production function is q= 2K^1/2l^1/2, the wage rate is $9/hr and the rental rate of capital is $36/hour

a. What is the firm’s optimal input combination when it wants to produce 100 units of output?

b. Suppose the firm chooses this input combination. What is the firm’s short run cost function?

c. What are the firm’s fixed costs? What are the firm’s variable costs?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9441627

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