Suppose a firm's short-run production function is given by Q = 3 sqrt(L), where L represents the number of hours of labour employed. The firm has a sunk cost of $500 and the wage rate is $18 per hour. What is the firm's short-run cost function?
Solve the production function for L:

Question

Suppose a firm's short-run production function is given by Q = 3 sqrt(L), where L represents the number of hours of labour employed. The firm has a sunk cost of $500 and the wage rate is $18 per hour. What is the firm's short-run cost function?
 Solve the production function for L:

Quizplus · Accepted Answer

The Answer of Suppose a firm's short-run production function is given by Q = 3 sqrt(L), where L represents the number of hours of labour employed. The firm has a sunk cost of $500 and the wage rate is $18 per hour. What is the firm's short-run cost function?
 Solve the production function for L:

Suppose a Firm's Short-Run Production Function Is Given by Q