3) Suppose that a firm's fixed proportion production function is given by q=min (5K, 10L), and that the rental rates for capital and labor are given by v=1, w=3. a.) What are the firm's long-run total, average, and marginal cost functions? b.) Suppose that K is fixed at 10 in the short-run. Calculate the firm's short-run total, average, and marginal cost curves. What is the marginal cost of the 10th unit? The 50th unit? The 100th unit?

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