Suppose a cost function of producing q level of output in C(w, r, q) where C(w, r, q) = \(q\left(\frac{w}{α}+\frac{r}{β}\right)\), where w and r are the wage cost and rental cost of the 2 inputs capital (K) and labour (l) respectively. What would be the production function q of k and 1 ?
1
q = αk + βl
2
q = [kα + lβ]r
3
q = min {αl, βk}
4
q = A(kα . lβ)