Assume the following production function: q = √k + √l a) Determine the cost function and the contingent input demand functions. b) If the firm’s output target is 1000 units and the prices per unit of capital and labour are 30 and 10, respectively, what will the firm’s cost be? What will its demand for capital and labour, respectively, be? c) Determine the rate of technical substitution and sketch the isoquant map corresponding to the production function.

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