Suppose a Perfectly Competitive Firm's Production Function Is Q =

question 3

Multiple Choice

Suppose a perfectly competitive firm's production function is q = L⁰.²K⁰.⁶ and it takes the wage and price as given.Then the firm's long-run demand for labor as a function of K,w,and p is

• A) p5((0.2/w)²(0.6/r)³).
• B) p5((0.2/w)⁴(0.6/r)⁵).
• C) p5((0.2/w)⁵(0.6/r)⁴).
• D) p5((0.2/w)³(0.6/r)²).

---

Definitions:

Selection

In programming, selection refers to choosing between different paths of execution based on certain conditions, often implemented through if-else or switch-case statements.

Logical Operator

An operator used in programming that returns a boolean value based on the combination of two or more conditions or expressions.

Reserved Words

Keywords in a programming language that are used for their predefined syntax and meaning, and thus cannot be used as identifiers for variables, classes, or functions.

Equality Operator

A symbol used in programming languages to compare two values for equality, typically represented by "==".