A firm's production function is given by q = min{M, L1/2}, where M is the number of machines and L is the amount of labor that it uses. The price of labor is $1and the price of machines is $2 per unit. The firm's long-run marginal cost curve is
- a straight line with slope 2.
- upward sloping and gets flatter as Q increases.
- upward sloping and gets steeper as Q increases.
- a straight line with slope 1.