A firm has a production function given by Q AL" K# and per unit prices of capital (K) and labour (L) are r and w respectively. a. Find the Marginal Rate of Technical Substitution of labour for capital for this firm b. If the firm seeks to minimize its cost and it is in the short run of production such that K = K find L and the short run cost function c. Suppose that the firm can now change all its inputs and it seeks to minimize its cost. Find the input demand functions for K and L; as well as the long run cost function %3D

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A:

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