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Short-run and long-run cost functions

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The Demic brothers, Epi and Pan, own a residential on-site building company they call "Shelters-in-place." The number of square feet they can build in a week is described as Q=10K^0.5L^0.5, where L is the number of workers and K is units of capital. The wage rate is $1000 per week and a unit of capital costs $250 per week. Suppose they are initially building 100 ft2 per week. What are their short-run and long-run cost functions?

Reference no: EM132500243

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