Question

A firm produces output according to the production function. Q=sqrt(L*K) The associated marginal products are MPL...

A firm produces output according to the production function. Q=sqrt(L*K) The
associated marginal products are MPL = .5*sqrt(K/L) and MPK = .5*sqrt(L/K)

(a) Does this production function have increasing, decreasing, or constant marginal
returns to labor?
(b) Does this production function have increasing, decreasing or constant returns to
scale?
(c) Find the firm's short-run total cost function when K=16. The price of labor is w and
the price of capital is r.
(d) Find the firm's long-run total cost function when r=9 and w=1.

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