Multiple Choice
If output is produced according to Q =4L +6K, the price of K is $24, and the price of L is $20, then the cost-minimizing combination of K and L capable of producing 72 units of output is
A) L = 9 and K = 6.
B) L = 20 and K = 24.
C) L = 18 and K = 12.
D) L = 0 and K = 12.
E) L = 18 and K = 0.
Correct Answer:
Verified
Correct Answer:
Verified
Q61: A new metal alloy is discovered that
Q62: Al's production function for deer is f(x1,
Q63: The total cost function c(w1, w2, y)expresses
Q64: As assistant vice president in charge of
Q65: A politician facing reelection can win votes
Q67: The Chrysler Belvedere Truck Plant is attempting
Q68: If there are increasing returns to scale,
Q69: A lobbyist in our nation's capitol must
Q70: A lobbyist in our nation's capitol must
Q71: An orange grower has discovered a process