Question: Consider a rm with the production function 2L0.5K0.5, where w = 4 and r = 1. (a) What are the MPL and MPK? (b) What

Consider a rm with the production function 2L0.5K0.5, where w = 4 and r = 1. (a) What are the MPL and MPK? (b) What is the equation for the long run expansion path? (c) What is the equation for the rm's total cost? (d) If this rm wishes to produce 800 units of the good, what amounts of labor and capital will they use

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