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What is the fir marginal cost of production

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Reference no: EM132265821

Suppose in the short run a firm's production function is given by Q = L1/2*K1/2, and that K is fixed at K = 9. If the price of Labor, w = $12 per unit of Labor, what is the firm's Marginal Cost of production when the firm is producing 48 units of output?

Reference no: EM132265821

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