Suppose the firm has a production function flk min2lk what
Suppose the firm has a production function F(L,K) = min{2L,K}. What is the associated cost function? (please give the explanation and answer)
a) c(w,v,q)= qw + 2qv
b) c(w,v,q)= 2qw+ qv
c) c(w,v,q)= 0.5qw + qv
d) c(w,v,q)= qw + 0.5qv
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