Derive long-run total cost curve in terms of the input price

Reference no: EM13221847

A packaging firm relies on the production function , with and . Assume that the firm's optimal input combination is interior (it uses positive amounts of both inputs). Derive its long-run total cost curve in terms of the input prices,wandr. Verify that if the input prices double, then total cost doubles as well.

Reference no: EM13221847

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