Multiple Choice
The production function for a competitive firm is Q = K.5L.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at one unit and costs $2.The maximum profits are:
A) 3.
B) 10.
C) 15.
D) None of the answers are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q64: Given the linear production function Q =
Q65: The short run is defined as the
Q66: Firm managers should use inputs at levels
Q67: You are an efficiency expert hired by
Q68: According to the table below,what is
Q70: Suppose that production for good X is
Q71: Which of the following "costs" could a
Q72: In the short run,the marginal cost curve
Q73: Fixed costs exist only in:<br>A) the long
Q74: Suppose that production for good X is