Wagner Machine Tool Produces Output According to Q = 4(KL)^1/2,where

question 25

Multiple Choice

Wagner Machine Tool produces output according to Q = 4(KL) ^1/2,where K is the amount of capital used and L is the amount of labor employed.Capital costs $2 per unit,and Wagner is constrained in the short run to use 16 units of capital.If labor costs $8 per unit,Wagner's minimized short-run marginal cost at an output of 48 is:

• A) $3.00.
• B) $3.50.
• C) $4.00.
• D) $4.50.
• E) $5.00.

---

Definitions:

Product Development

The process of bringing a new product from concept through to the market, involving stages such as ideation, design, testing, and launch.

Commercialization

The process of bringing new products or services to the market, ensuring they can be manufactured at a scale and marketed effectively to generate profit.

Screening

The process of evaluating or analyzing information to separate out important or relevant data from that which is irrelevant or not pertinent.

Product Development

The process of bringing a new product or service to market, from idea generation to design, manufacturing, and launch.