The production function for a competitive firm is Q = K.5L.5.The firm sells its output at a price of $10,and can hire labor at a wage of $5.Capital is fixed at 25 units.The profit-maximizing quantity of labor is:
A) 1.
B) 2.
C) 10.
D) None of the answers are correct.
Correct Answer:
Verified
Q1: For the cost function C(Q)= 100 +
Q2: If the production function is Q =
Q3: Suppose the production function is Q =
Q5: For a cost function C = 100
Q6: The production function Q = L.5K.5 is
Q7: For the cost function C(Q)= 100 +
Q8: Suppose the production function is given by
Q9: Suppose the production function is given by
Q10: You are an efficiency expert hired by
Q11: For a cost function C = 100
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