Given Q=100K^0.5L^0.5 ,w= 30, r=40 i) Find the quantity of labour and capital that the firm should use in order to minimize the cost of producing 1444 units of output ii) What is this minimum cost?

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A: Marginal-Cost(MC) is the cost(c) of producing one additional unit. Given the cost-function(c(x)),…

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A: Marginal cost refers to an additional cost that occurs from producing one more unit of output.

Q: f the cost of producing 100 pies is $274 the average total cost is?

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A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a…

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Q: Given Q=100k0.5L0.5 , C=1200 w=30   r=40 (a)Determine the quantity of labour and capital the firm…

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