Suppose a Production Function Is Q = K^1/2L^1/3 and in the Short

question 7

Multiple Choice

Suppose a production function is q = K^1/2L^1/3 and in the short run capital (K) is fixed at 100.If the wage is $10 and the rental rate on capital is $20,the fixed cost is

• A) $2,000
• B) $200
• C) $20,000
• D) $0

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Definitions:

Cognitive Ability

The capacity to perform mental processes like learning, reasoning, problem solving, and decision making.

Integrity

The quality of being honest and having strong moral principles.

Flexibility

The ability to adapt to changes and respond to varying environments or circumstances.

Concern For People

The consideration and care shown towards individuals' welfare and well-being by organizations or other individuals.