A firm has a Cobb-Douglas production function, q = 2L^0.5K^0.5 . If it faces prices of w = 20 and r = 40 and its capital is fixed at K = 100, what are its short-run average fixed cost, average variable cost, and marginal cost functions? Plot these curves I have my answers to the AFC, AVC, MC, I just need to verify how to plot the curves. What the plotted curves look like, thanks in advance!
A firm has a Cobb-Douglas production function, q = 2L^0.5K^0.5 . If it faces prices of w = 20 and r = 40 and its capital is fixed at K = 100, what are its short-run average fixed cost, average variable cost, and marginal cost functions? Plot these curves I have my answers to the AFC, AVC, MC, I just need to verify how to plot the curves. What the plotted curves look like, thanks in advance!
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
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A firm has a Cobb-Douglas production function, q = 2L^0.5K^0.5 . If it faces prices of w = 20 and r = 40 and its capital is fixed at K = 100, what are its short-run average fixed cost,
I have my answers to the AFC, AVC, MC, I just need to verify how to plot the curves. What the plotted curves look like, thanks in advance!
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