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Minimum cost of producing

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Let the cost function c(w,r,y) of a firm give the minimum cost of producing y units of output using labor input, L, and capital input, K, when w is the wage (i.e. the price of labor input) and r is the interest rate (i.e. the price of capital input). Derive the cost functions for the technologies modelled by the following production function.

Reference no: EM131274020

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