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Business, 07.04.2020 23:21 smann211

Consider a firm with production function f(L, K)=2L+4K. Assume also that the price of capital r=3 and the price of labor w=2. What is this firm’s average cost function when both L and K are variable?

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Consider a firm with production function f(L, K)=2L+4K. Assume also that the price of capital r=3 an...
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