Question: Suppose the production function is given as that from Question 1. Suppose now that the wage and the rental rate are given by w =4

Suppose the production function is given as that from Question 1. Suppose now that the wage and the rental rate are given by w =4 and r= 8, respectively. What is the firm's total cost function, TC (q) ? O TC (q) =2q O TC(q) = 2q O TC (q) =- 3 3q O TC (q) =Suppose that a rm's production function is given by F(K ,L) = 3K 2 + 3L 2 , in which case the marginal product of capilal and labor are given by

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