Solved

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

Question 9

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 16, how many units of labor will the firm hire?


A) 64
B) 192
C) 32
D) 128
E) None of the above.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q4: the production function is given by f(x)=

Q5: the production function is f(x<sub>1</sub>, x<sub>2</sub>)= x<sup>1/2</sup><sub>1</sub>x<sup>1/2</sup><sub>2</sub>.If

Q6: the production function is given by

Q7: the production function is given by F(L)=6L<sup>2/3</sup>.Suppose

Q8: the production function is given by f(x)=

Q10: the production function is given by F(L)=

Q11: if the price of the output good

Q12: the production function is given by F(L)=6L<sup>2/3</sup>.Suppose

Q13: the production function is f(x<sub>1</sub>, x<sub>2</sub>)= x<sup>1/2</sup><sub>1</sub>x<sup>1/2</sup><sub>2</sub>.If

Q14: when Farmer Hoglund applies N pounds of