A firm produces a product with labor and capital. Its production function is described by Q =
Question:
a) Find the equation for the firm's long-run total cost curve as a function of quantity Q when the prices labor and capital are w = 1 and r = 1.
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a With a linear production function the firm operates at a corner point depending on whether w r or w r If w r the firm uses only labor and thus sets ...View the full answer
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Sumit kumar
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QUATERNARY Pursuing M.Tech.(2017-2019) in Electronics and Communication Engg. (VLSI DESIGN) from
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TERTIARY B.Tech. (2012-2016) in Electronics and Communication Engg. from GLBITM Greater Noida
SECONDARY Senior Secondary School Examination (Class XII) in 2012 from R.S.S.Inter College, Noida
ELEMENTARY Secondary School Examination (Class X) in 2010 from New R.J.C. Public School ,Noida
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