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? O MCLR(q) = q4/2 MCLR(q) = q2 / 4 O MCLR(q) = q/4 O MCLR(q) = 8q3³/3

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Suppose q = f(L,K) =2L¹/2
What is the marginal cost in the long-run of the firm?
O MCLR(q) = q4/2
MCLR(q) = q2 / 4
O MCLR(q) = q /4
O MCLR(q) = 8q³/3
O MCLR(q) = 4q²/2
+
2K1/2 and the prices or labor and capital are w=$1, r=$1.
Transcribed Image Text:Suppose q = f(L,K) =2L¹/2 What is the marginal cost in the long-run of the firm? O MCLR(q) = q4/2 MCLR(q) = q2 / 4 O MCLR(q) = q /4 O MCLR(q) = 8q³/3 O MCLR(q) = 4q²/2 + 2K1/2 and the prices or labor and capital are w=$1, r=$1.
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