Define cost function-avg cost-marginal cost

Reference no: EM13173437

Let the production function Q=L ^1/2 K^1/2

A) what is the elasticity of substitution?
B) if the production is Q= L ^1/2 K ^1/2. What is the total cost function ? What is marginal cost? What is average cost?

Reference no: EM13173437

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