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Firm B’s production function is q = min {8L, 10K} where L is the quantity of...

Firm B’s production function is q = min {8L, 10K} where L is the quantity of labor and K is the quantity of capital used to produce output q. Let PL and PK denote price of labor and price of capital, respectively. Derive Firm B’s long-run total cost function. Show your work.

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