The production function is f (L, M) =4L1/2M1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $36 per unit and the cost of machines is $4 per unit, then the total cost of producing 6 units of output will be
A) $72.
B) $36.
C) $120.
D) $24.
E) None of the above.
Correct Answer:
Verified
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