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

Question 16

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 $8.How many units of labor will the firm hire?


A) 16
B) 8
C) 4
D) 24
E) None of the above.

Correct Answer:

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