Question: Please help explain how 9: 5K 1/2 1 1/2 W = 10 V = 10 7. Consider a firm with production function given by q

Please help explain how

9: 5K 1/2 1 1/2 W = 10 V = 10 7. Consider a firm with production function given by q = 5K1/211/2 and w=10 and v=10. a. Calculate the least cost way (amount of K, L) to produce 100 units of output in the long run. ido O MRTS != 2net -1/2 105 MPL W MPK . 5. ( 5 ) K 1/ 2 10 251-1/2 10 Based on part a, calculate the total cost of producing 100 units of output in the long run. c. Algebraically calculate the equation of the firm's long run total cost function. d. Based on part c, calculate the total cost of producing 100 units of output in the long run. Now suppose it is the short-run and capital is fixed at 9 units. i. Calculate the equation of the short-run total cost function. ii. Calculate the total cost of producing 100 units of output in the short run. f. Fill in the blank: Long-run costs are always short run costs. Explain

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