What is their short run optimal input combination

Reference no: EM13698910

Suppose production function for noodle soup at Slurping Turtle is Q =4k^1/2 L^1/2. They currently own 4 units of capital and are not able to change this during the short run. The rental rate of capital is $10 and the wage rate is $20

a) Suppose Slurping Turtle wants to produce 48 noodle soups. What is their short run optimal input combination?

b) What is Slurping Turtle’s short run total cost function?

c) What is Slurping Turtle’s short run variable cost function?

Reference no: EM13698910

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