Consider a general Cobb-Douglas production function
q = AL^aK^b
where A,a and b are positive constants.
Using this production function,derive the short-run cost function for a fixed capital stock,K₀,wage rate w,and capital rental rate r.

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The Answer of Consider a general Cobb-Douglas production function q = AL^aK^b where A,a and b are positive constants. Using this production function,derive the short-run cost function for a fixed capital stock,K₀,wage rate w,and capital rental rate r.

Consider a General Cobb-Douglas Production Function