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Primo Fungi’s production function isQ= 8*(KL)的开方( Primo Fungi’s product is mushroom). The firm must pay input prices of $3 and $27 per unit, for capital and labor, respectively. Please answer the following questions: (1) What is Primo Fungi’s long-run cost function? (2) What is Primo Fungi’s long-run cost function if its input of capital is fixed at k=4? (3) Show that Primo Fungi’s long-run supply curve is more elastic than its short-run supply curve when its input of capital is fixed at k=4. (4) Show that even if the market of mushroom is perfectly competitive, Primo Fungi is willing to supply mushroom when its input of capital is fixed at k=4. 希望各位帮帮忙! 最好详细点,本人初学。 |
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