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A Firm's Production Function Is Given by

Question 29

Multiple Choice

A firm's production function is given by A firm's production function is given by .The marginal products of labor and capital are,respectively, and .Further,the wage rate is and the rental rate of capital is .What is the most efficient combination of labor and capital that also results in a total cost level of exactly $1,200? A) (20, 50) B) (25, 47.5) C) (30, 45) D) (40, 40) .The marginal products of labor and capital are,respectively, A firm's production function is given by .The marginal products of labor and capital are,respectively, and .Further,the wage rate is and the rental rate of capital is .What is the most efficient combination of labor and capital that also results in a total cost level of exactly $1,200? A) (20, 50) B) (25, 47.5) C) (30, 45) D) (40, 40) and A firm's production function is given by .The marginal products of labor and capital are,respectively, and .Further,the wage rate is and the rental rate of capital is .What is the most efficient combination of labor and capital that also results in a total cost level of exactly $1,200? A) (20, 50) B) (25, 47.5) C) (30, 45) D) (40, 40) .Further,the wage rate is A firm's production function is given by .The marginal products of labor and capital are,respectively, and .Further,the wage rate is and the rental rate of capital is .What is the most efficient combination of labor and capital that also results in a total cost level of exactly $1,200? A) (20, 50) B) (25, 47.5) C) (30, 45) D) (40, 40) and the rental rate of capital is A firm's production function is given by .The marginal products of labor and capital are,respectively, and .Further,the wage rate is and the rental rate of capital is .What is the most efficient combination of labor and capital that also results in a total cost level of exactly $1,200? A) (20, 50) B) (25, 47.5) C) (30, 45) D) (40, 40) .What is the most efficient combination of labor and capital A firm's production function is given by .The marginal products of labor and capital are,respectively, and .Further,the wage rate is and the rental rate of capital is .What is the most efficient combination of labor and capital that also results in a total cost level of exactly $1,200? A) (20, 50) B) (25, 47.5) C) (30, 45) D) (40, 40) that also results in a total cost level of exactly $1,200?


A) (20, 50)
B) (25, 47.5)
C) (30, 45)
D) (40, 40)

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