Suppose That a Firm's Production Function of Output Is a Function of Only Two Inputs, Labor (L) and a Function
Multiple Choice
Suppose that a firm's production function of output is a function of only two inputs, labor (L) and capital and can be written with marginal products and 25L. Let the wage rate for labor be and the rental rate of capital be . If the firm produces 100 units of output, how many units of labor will it use?
A) 1
B) 2
C) 3
D) 4
Correct Answer:

Verified
Correct Answer:
Verified
Q55: The short-run is a time period in
Q56: For a production process with ten inputs,
Q57: Suppose capital and labor are perfect complements
Q58: You decide to purchase a new car
Q59: A firm's production function is given
Q61: The cost-minimization problem of the firm is
Q62: A difference between the short run and
Q63: A firm decides to purchase a computer
Q64: The long-run is a time period in
Q65: Consider a production process with two inputs