A production process using two inputs labor and capital can


A production process using two inputs, labor and capital, can be written as: Q=5KL MPL=5K and MPK=5L. The price of a unit of labor is $150 and the price of a unit of capital is $1000. Write the equation showing procedure for the firm's long-run cost curve

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Business Economics: A production process using two inputs labor and capital can
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