Question: U U U U U A production function for a good Q uses inputs of labor (L) and capital (K) and takes the form Q

 U U U U U A production function for a good

Q uses inputs of labor (L) and capital (K) and takes the

U U U U U A production function for a good Q uses inputs of labor (L) and capital (K) and takes the form Q = LK. The wage is equal to $20 and the rental rate of capital is equal to $80. The firm has to produce a target go. Assume that K is fixed at K in the short run, what is the equation for the firm's short-run total cost curve? O SRTC = 20go + 80K O SRTC = 20go 80go K K O SRTC = 2090 + 80K K SRTC = 2090 4 80K K 2 pts Question 19 A firm in a perfectly competitive market has a short-run total cost function equal to SRTC=4+20q, where q is the number of units the firm produces. The firm faces a market price of $10. Enter the optimal number of units should this firm produce to profit maximize? Hint: this could be considered a "trick question", but it's easy once you think about the way a firm should profit maximize

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