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Suppose the firm wants to produce

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let Pk=25, Pl=4,production function Q=(LK)^(1/2).;1) find the long run cost function;2) find VC, AC, AVC and MC;3) Suppose the firm wants to produce Q which maximizes its short run profit. What would be the optimal level of L and K and the TC

 

Paper#26529 | Written in 18-Jul-2015

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