In this question, only K is included and L is excluded how would I go about deriving it?
Total cost= Fixed costs + Average costs.
Since the variable input costs r per unit, the variable costs is r times the number of units rQ, hence $VC= rK^\alpha$.
Thus $C(Q)= c_0 + rK^\alpha$
Is the above solution correct? IS there a more mathematical way of doing it, one that involves grpahs etc.