A firm produces output according to the production function.
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
(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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