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November 1, 2014

Homework Help: economics

Posted by jon on Monday, October 15, 2007 at 9:42am.

Suppose a firm produces output using the technology Q=K1/3 L2/3 Find
a. The long run cost function
b. The short run cost function if capital is stuck at 10 units.
c. The profit maximizing level of output as a function of the price of the good, wages, rental rate on capital, the amount of capital, and some other numbers.

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