What is the long- run cost function for a fixed-proportions production function for which it takes two

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What is the long- run cost function for a fixed-proportions production function for which it takes two units of labor and one unit of capital to produce one unit of output as a function of the wage, w, and the price of capital, r? What is the cost function if the production function is q = L + K?

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Managerial Economics and Strategy

ISBN: 978-0321566447

1st edition

Authors: Jeffrey M. Perloff, James A. Brander

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