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Michael's Dairy Farm's Cost Function Is Where Q Is

Question 142

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Michael's dairy farm's cost function is Michael's dairy farm's cost function is   where q is the amount of output and A is the average age of Michael's employees. Currently, the average age of Michael's employees is 32. Next year, Michael expects the average age of his employees to decrease by 3 years due to job turnover. What happens to Michael's cost of production if he is correct? where q is the amount of output and A is the average age of Michael's employees. Currently, the average age of Michael's employees is 32. Next year, Michael expects the average age of his employees to decrease by 3 years due to job turnover. What happens to Michael's cost of production if he is correct?

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Presently, Michael's costs are...

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