A Firm's Production Function Is Given By $Q = K L$

question 53

Multiple Choice

A firm's production function is given by $Q = K L$ . The marginal products of labor and capital are, respectively, $M P _ { L } = K$ and $M P _ { K } = L$ . The wage rate of labor is $w = \$ 10$ and the rental rate of capital is $r = \$ 20$ . The firm spends exactly $\$ 1000$ in the most efficient way possible. How much output can the firm produce?

• A)450
• B)800
• C)1000
• D)1250

Comprehend the development phases of a human from conception through the prenatal period.

Recognize the effects of prenatal substance exposure on infant development and health.

Understand infants' perceptual and cognitive capabilities, including habituation and sound discrimination.

Analyze the ability of newborns to recognize and prefer their mother's voice, indicating early social and cognitive development.

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Definitions:

Debit

An entry recorded on the left side of an account in double-entry bookkeeping that increases asset or expense accounts, or decreases liability, equity, or revenue accounts.

Liability Account

An accounting record of obligations or debts that a company owes to others, typically outside of the company.

Increase

An upward adjustment or growth in value, quantity, or size.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest in the company.