Question
10) A firm has a production function of Q = 2KL, where Q is the output. In the short-Run, K is fixed at 5 units.
10) A firm has a production function of Q = 2KL, where Q is the output. In the short-Run, K is fixed at 5 units. If the price of L is $2 and the price of K is $5, what is the total of cost producing Q = 50 units?
$55.5
$45.5
$37.5
$35
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Managerial Economics
Authors: William F. Samuelson, Stephen G. Marks
8th edition
1118808940, 978-1119025900, 1119025907, 978-1119025924, 978-1118808948
