Question

A firm uses capital and labor to produce output according to the production ? = 4√??...

A firm uses capital and labor to produce output according to the production ? = 4√??
(a) Find the marginal product of labor (MPL) and marginal product of capital (MPK).
(b) If the wage w=$1/labor-hr. and the rental rate of capital r=$4/machine-hr., what is the
least expensive way to produce 16 units of output?
(c) What is the minimum cost of producing 16 units?
(d) Show that for any level of output, q, the minimum cost of producing q is $q.
(e) Find the Total cost function.

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