Output Is Produced According to Q = 4L + 6K,where

question 23

Multiple Choice

Output is produced according to Q = 4L + 6K,where L is the quantity of labor input and K is the quantity of capital input.If the price of K is $12 and the price of L is $6,then the cost-minimizing combination of K and L capable of producing 60 units of output is:

• A) L = 5 and K = 6.66.
• B) L = 7.5 and K = 5.
• C) L = 6 and K = 6.
• D) L = 0 and K = 10.
• E) L = 15 and K = 0.

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Definitions:

IT Managers

Professionals responsible for overseeing the information technology (IT) needs of an organization, including its hardware, software, and network systems.

Traditional Development

A linear and sequential approach to software development that typically follows a set of predefined phases such as requirements, design, implementation, testing, and maintenance.

Agile Development

A software development methodology based on iterative progress, where requirements and solutions evolve through collaborative effort of self-organizing cross-functional teams.

Rapid Application Development

A software development approach focused on quick prototyping, iterative delivery, and less emphasis on planning and more on adaptive processes.