Question: can i please get a detailed step by step explanation Question 2 that its wnge, w, as $6 per botif and the rental coot of
Question 2 that its wnge, w, as $6 per botif and the rental coot of cepital, r, is $20. What is the equation of the firm's hathorus cosk function and the firm's lang-run ayerage cost? 1004L6K.6100.6L.4K.1=4L.6K=2L3K106=L1.5KL1.53L=1.51.5KK=.2Lq=KL9=2L2q=2L2 Question 3 Which of the following statensents best sumanariza the law of diminishing mankinal retarnis? (a) It the short rus, as more labor is hired, output kiminishes, (b) In the short run, is more labor is bired output inerentes at a dimisishiss rite (c) In the short run, the itnocat of labor a firin will hire dimintises as ectpat lactesien. (d) As more Inbor is bired, the length of time that defines the sbort ras diminibes
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