15. Suppose q = f(L,K) =2L1/2 + 2K1/2 and the prices or labor and capital are w=$1, r=$1. What is the marginal cost in the long-run of the firm? a. MC(q)= 2q2 /3 b. MC(q)= q / 4 c. MC(q)= q8 / 2 d. MC(q)= 4q3 / 3 e. MC(q)= 8q3 / 3

15. Suppose q = f(L,K) =2L1/2 + 2K1/2 and the prices or labor and capital are w=$1, r=$1. What is the marginal cost in the long-run of the firm? a. MC(q)= 2q2 /3 b. MC(q)= q / 4 c. MC(q)= q8 / 2 d. MC(q)= 4q3 / 3 e. MC(q)= 8q3 / 3

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.4: Costs Of Production: Total, Average, Marginal

Problem 3ST

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15. Suppose q = f(L,K) =2L1/2 + 2K1/2 and the prices or labor and capital are w=$1, r=$1. What is the marginal cost in the long-run of the firm?

a.	MC(q)= 2q2 /3
b.	MC(q)= q / 4
c.	MC(q)= q8 / 2
d.	MC(q)= 4q3 / 3
e.	MC(q)= 8q3 / 3

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