The production function is given by F(L) = . 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.

Question

The production function is given by F(L) =  . 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.

Quizplus · Accepted Answer

The Answer of The production function is given by F(L) =  . 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.

The Production Function Is Given by F(L) =