Hello, how do I solve this?
A firm uses capital (denoted by K) and labor (denoted by L) to produce hockey sticks. The
firm’s production function is given by q=2*root of KL. In the short run, the firm’s amount of capital
equipment is fixed at K(dash)=100. The rental rate for capital is $1 per unit and the wage rate is equal to $4.
Question: What is the firm’s short-run total cost function and the short-run average cost
function. What is the the firm’s short-run marginal cost function.