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What is marginal cost

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Please show all steps clearly in the solution!!

Production function is g = KiLi, I = 1,2

These are 2 warehouses

# 1 has k1 = 25, #2 has k2 = 100 Rupiah (capital)
-Rates Paid are w = r = 1 Rupiah

a) To minimize short run cost, How to allocate between warehouses

b) Calculate
SRTC, SRAC, SEMC
What is marginal cost of sto ring 100th, 125th, 200th objects?

c) To minimize cone run cost, how to allow
Production (storage ) in 2 faeturiei
Calculate
LRTC, LRAC, LRMC

d) How does (c) Change IF both have diminishing marginal returns?

Reference no: EM132382260

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Reviews

len2382260

10/5/2019 12:03:36 AM

This problem is very similar to the SHORT RUN COST CURVE problem and so should cost the same, and if possible same person should do it as they did a great job.

Write a Review

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