Use calculus to derive your firm long-run cost function

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Your firm has an estimated production function q = 1/2KL^2. Further, the rental rate of capital is $80 and the wage rate is $40. You are considering long-run prospects. Use calculus to derive your firm's long-run cost function. (Make sure to show the three steps used in lecture and in past assignments.)

Reference no: EM131393559

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Use calculus to derive your firm long-run cost function : Your firm has an estimated production function q = 1/2KL^2. Further, the rental rate of capital is $80 and the wage rate is $40. You are considering long-run prospects. Use calculus to derive your firm's long-run cost function.

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