Find long-run cost function, given production function

AI Thread Summary
The discussion centers on finding the long-run cost function based on the production function Q = L + K. Participants express confusion about the problem, particularly regarding the implications of the isocost line's slope, which can lead to three different answers. The lack of a clear question complicates the conversation further, leaving contributors feeling lost. Overall, the challenge lies in understanding how the production function interacts with cost considerations in a long-run context. Clarification on the isocost line's role is essential for resolving the confusion.
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I am completely lost...

Production function: Q = L + K

Given a hint that there are three answers, depending on the slope of the isocost line...

?
 
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939 said:
I am completely lost...

Production function: Q = L + K

Given a hint that there are three answers, depending on the slope of the isocost line...

?

It is even harder to answer the question when there isn't one.
 
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