Question: Economics 4. Consider the production function f (L, K) = D3K3 where K is fixed at 8. a. If the short run total cost function

Economics 4. Consider the production function f (L, K) = D3K3

Economics 4. Consider the production function f (L, K) = D3K3 where K is fixed at 8. a. If the short run total cost function is C(q) =16q' +40, find the wage rate, w, and the rental rate, r. b. State VC(q), F, MC(q) and AC(q). c. How will MC(q) and AC(q) change if a per-unit tax of $5 is imposed in this market? Your

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