Multiple Choice
In the short run, a firm which has production function f(L, M) =4L1/2M1/2 must use 4 machines.If the cost of labor is $4 per unit and the cost of machines is $4 per unit, the short-run total cost of producing 48 units of output is
A) $192.
B) $196.
C) $198.
D) $320.
E) $160.
Correct Answer:
Verified
Correct Answer:
Verified
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