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QUESTION

Hello, how do I solve this?

Hello, how do I solve this?

A firm uses capital (denoted by K) and labor (denoted by L) to produce hockey sticks. The

firm's production function is given by q=2*root of KL. In the short run, the firm's amount of capital

equipment is fixed at K(dash)=100. The rental rate for capital is $1 per unit and the wage rate is equal to $4.

Question: What is the firm's short-run total cost function and the short-run average cost

function. What is the the firm's short-run marginal cost function.

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