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Home Q & A Board Other Fields Homework Help Business Economics
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PaulKet PaulKet
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6 years ago
Suppose capital and labor are perfect substitutes resulting in a production function of
q = K + L. That is, the isoquants are straight lines with a slope of -1. Derive the long-run total cost function TC = C(q) when the wage rate is w and the rental rate on capital is r.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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SaHiN22SaHiN22
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6 years ago
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PaulKet Author
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6 years ago
Smiling Face with Open Mouth Yay, got perfect on my quiz
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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