題組內容

2. Consider the following production function 
Y = AX(L-F) 
where Y is output, A is a technology parameter, L is labor input, and F is a fxed amount of labor that is required before the first unit of output can be produced. Assume that the Y = 0 if L ＜ F. Each unit of labor L costs the wage w to hire.

(a) Find the cost function, C(Y), that tells the minimum cost required to produce Y units of output.