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The Production Function Is Given by F(L)=6L2/3

Question 29

Multiple Choice

The production function is given by F(L) =6L2/3.Suppose that the cost per unit of labor is $16 and the price of output is $12.How many units of labor will the firm hire?


A) 54
B) 13.50
C) 27
D) 81
E) None of the above.

Correct Answer:

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