Multiple Choice
Recall that Touchie McFeelie's production function for comics books is 0.1J1/2 L3/4.Suppose that Touchie can vary both jokes and cartoonists' labor.If old jokes cost $3 each and cartoonists' labor costs $18 per hour, then the cheapest way to produce comics books requires using jokes and labor in the ratio
A) J/L = 6.
B) J/L = 8.
C) J/L = 2.
D) J/L = 2/3.
E) J/L = 4.
Correct Answer:
Verified
Correct Answer:
Verified
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