1.[2 points] Explain for what situation an increase in the price of a input, will not increase the price of the firms cost curve.

2.[4 points] a firms total cost curve is , and its marginal cost curve is . Over what range of output does the production function exhibit economies of scale, and ober what range does it exhibit diseconomies of scale?

3.[2 points] a firm has the production function Q=min{2L,K}, find the cost function in the long run if wage is $2 and capital rental is $3.

4.[2 points] a firm has the production function Q=L+2K, and that wage is $2 and capital rental is $3. and that capital is fixed at 10.

a.find the cost function in the short run

b.Find the average cost function in the short run

1. [2 points] Explain for what situation an increase in the price of a input, will not increase the price of the firms cost curve. ~ 2. [4 points] a firms total cost curve is TC(Q) = 10Q - 502 + Qs, and its marginal cost curve is MC(Q) = 10 - 10Q + 302. Over what range of output does the production function exhibit economies of scale, and ober what range does it exhibit diseconomies of scale? 3. [2 points] a firm has the production function Q=min(2L,K), find the cost function in the long run if wage is $2 and capital rental is $3. 4. [2 points] a firm has the production function Q=L+2K, and that wage is $2 and capital rental is $3. and that capital is fixed at 10.~ a. find the cost function in the short run ~ b. Find the average cost function in the short rune