Multiple Choice
A firm has a production function of Q = KL + L, where MPL = K + 1 and MPK = L. The
Wage rate (W) is $100 per worker and the rental (R) is $100 per unit of capital. In the short run, capital (K) is fixed at 4 and the firm produces 100 units of output. The firm's short-run total cost of producing 100 units of output is $____.
A) 3,000
B) 2,400
C) 1,900
D) 1,500
Correct Answer:
Verified
Correct Answer:
Verified
Q28: Lilly's Lumberyard had the following revenues and
Q29: Suppose a firm's total cost curve is
Q30: Which of the following statements is (are)
Q31: (Figure: Supply and Quantity I) Refer to
Q32: A firm with a production function Q
Q34: Determine whether each of the following statements
Q35: If TC = 1,500 + 7.5Q +
Q36: (Figure: Cost and Quantity of Output II)
Q37: A fixed cost:<br>A) does not change with
Q38: Anvi runs a coffee shop that has