Derive the total supply function of x for the industry

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Where L stand for quantity of labor unit used and K stand quantity of capital unit used. In the competitive factor markets the wage rate W = $10 and rental rate of capital R = $20.

1. Derive the total cost function of the firm for X. Derive the total supply function of X for the industry assuming that the industry operated under perfect competition.

Reference no: EM1346803

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