Problem
Suppose a firm's production function is given by Q = L1/2*K1/2. The Marginal Product of Labor and the Marginal Product of Capital are given by:
MPL = (K^1/2) / 2(L^1/2) and
MPK = (L^1/2) / 2(K^1/2)
a) Suppose the price of labor is w = 9, and the price of capital is r = 4.Derive the firm's total cost function.
b) What is the firm's marginal cost?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.