Let the Production Function Be F(L)=6L^2/3

question 65

Multiple Choice

Let the production function be f(L) =6L^2/3. Suppose that the cost per unit of labor is 8 and the price of output is 8, how many units of labour will the firm hire?

• A)192
• B)128
• C)64
• D)32

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Correct, precise, or free from errors or defects.

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A monetary unit in many countries, equal to one hundredth of the basic unit of currency.

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Describes a high level of correctness, diligence, and precision in measurement or information.

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The degree of closeness of a measured or calculated quantity to its actual (true) value.