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    Hey,

    I started studying Economics at uni this year and I've just been assigned an essay which I've absolutely no idea how to go about answering.

    I doubt I'll get any responses to this but I would be extremely appreciative if anyone can give me any guidance/advice in regard to the question, even just a couple of topics/points you think might be relevant as I am struggling a lot.

    The question is a 2500 word essay with the title "Consider a firm that uses labour and capital to produce a single output.
    The output quantity is q and input quantities are K and L, respectively. Input prices are r and w, respectively. The firm has production function f(K,L) = min(K, 2L). All input quantities are variable. Graphically determine the cost function C(q). Explain the diagram(s). Note that it is not necessary to mathematically determine the formula for C(q)."

    Thank you very much for any responses
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    Bump in case there's any willing Economists seeing this haha
 
 
 
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