Suppose a firm can use either capital (k) or labor (l) in a production process. the firms production function is given by q = 5l + 15k. the price of capital is $20 per unit and the price of labor is $8 per unit.
a. what is the firm's total cost function?
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Home » Business » Suppose a firm can use either capital (k) or labor (l) in a production process. the firms production function is given by q = 5l + 15k. the price of capital is $20 per unit and the price of labor is $8 per unit. a.