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What is the firm total cost function

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Reference no: EM132156925

Suppose a firm has a production function given by Q = L1/2K1/2. Therefore, The firm can purchase labor, L at a price w = 8, and capital, K at a price of r = 2.  

a) What is the firm's Total Cost function, TC(Q)?

b) What is the firm's marginal cost of production?

Reference no: EM132156925

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