Question: Let the production function be given by: q = 3 L 2 K , with rental rate v = $ 2 and wage rate w
Let the production function be given by: with rental rate $ and wage rate $
How much and are employed to produce units of output?
Suppose that the firm wants to increase output to units of output, now how much and are employed to produce with minimize cost?
Suppose that in the short run the amount of capital is fixed at what is the firm short run fixed cost?
Suppose that in the short run the amount of capital is fixed at what is the short run total cost of producing units of output?
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