If the Cobb-Douglas Production Function for a Beer Manufacturer Is

question 20

Multiple Choice

If the Cobb-Douglas production function for a beer manufacturer is q=1.52L⁰.⁶K⁰.⁴.Assume that the firm's capital is fixed at 250 units,the rental rate of capital is $5 per unit,and the wage rate is $10 per hour.The amount of labor needed to produce q units of output is

• A) 0.0124q.
• B) 13.832q⁰.⁶.
• C) 0.0124q¹.⁶⁷.
• D) 13.832q¹.⁶⁷.

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Definitions:

Unicellular Parasites

Single-celled organisms that live and feed on other living entities, often causing diseases.

Flagellum

A whip-like structure present in some cells that is used for locomotion or sensory functions.

Amanita

A genus of mushrooms, which includes both highly toxic species, such as the death cap, and edible species.

Saccharomyces

Saccharomyces is a genus of yeasts, most notably including Saccharomyces cerevisiae, widely used in baking, brewing, and wine making.