Touchie McFeelie from your workbook has a production function (0.1)J^1/2 J^3/4, where J is the number of old jokes used and L is the number of hours of cartoonists' labor.Touchie is stuck with 400 old jokes for which he paid 6 dollars each.If the hourly wage rate for cartoonists is 4 dollars, then the total cost of producing 16 comics books is A)2,464 dollars. B)1,232 dollars. C)2,480 dollars. D)3,696 dollars. E)616 dollars.

Question

Quizplus · Accepted Answer

The total cost of producing 16 comics books is the sum of the cost of the old jokes and the cost of the cartoonists' labor. The cost of the old jokes is 400 * 6 = 2400 dollars. The cost of the cartoonists' labor is 16 * 4 = 64 dollars. Therefore, the total cost of producing 16 comics books is 2400 + 64 = 2464 dollars.

Touchie McFeelie from Your Workbook Has a Production Function (0