Suppose a production function is q = K1/2L1/3 and in the short run capital (K) is fixed at 100.If the wage is $10 and the rental rate on capital is $20,the short run marginal cost is
A) 1000 + q3
B)
C) q3
D) 2q3
Correct Answer:
Verified
Q1: Suppose the production function for coffee (C)is
Q4: Suppose a cost function is TC =
Q6: Suppose a cost function is TC =
Q7: Suppose the production function for coffee (C)is
Q8: Suppose pigs (P)can be fed corn-based feed
Q8: Suppose a production function is q =
Q9: Suppose a cost function is TC =
Q10: Suppose a production function is q =
Q16: The opportunity cost of producing a bicycle
Q20: The accountant's cost of producing a bicycle
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents