5. Mary's firm uses both capital and labor to produce cooking supplies. Her firm's production function is given by Q(L,K) = LK². Let w represent the wage and r represent the price of capital. Which of the following represent her long-run capital demand function? a. K = () () 1 b. K = c. K = W 2r (Q)²² 1 d. K = (²)² (Q)²²
5. Mary's firm uses both capital and labor to produce cooking supplies. Her firm's production function is given by Q(L,K) = LK². Let w represent the wage and r represent the price of capital. Which of the following represent her long-run capital demand function? a. K = () () 1 b. K = c. K = W 2r (Q)²² 1 d. K = (²)² (Q)²²
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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provide detailed and straightforward solution with steps, show proper calculations please.

Transcribed Image Text:5. Mary's firm uses both capital and labor to produce cooking supplies. Her firm's production
function is given by Q(L,K) = LK². Let w represent the wage and r represent the price of capital.
Which of the following represent her long-run capital demand function?
a. K =
() ()
1
b. K =
c. K =
W
2r
(Q)²²
1
d. K = (²)² (Q)²²
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