Question

Suppose that the production function for Hannah and Sam’s home remodeling business is          Q=F(L,K)Q=F(L,K)                &nbsp

Suppose that the production function for Hannah and Sam’s home remodeling business is

         Q=F(L,K)Q=F(L,K)        

         Q=10L0.2K0.3.Q=10L0.2K0.3.

The wage rate is $1,500 per week and the cost of renting a unit of capital is $1,000 per week. What is their cost function?

Instructions: Enter your answer as a whole number.

C(Q) = Q2.

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