The Production Function for a Competitive Firm Is Q =

question 125

Multiple Choice

The production function for a competitive firm is Q = K.⁵L.⁵.The firm sells its output at a price of $10, and can hire labor at a wage of $5.Capital is fixed at 25 units.The profit-maximizing quantity of labor is

• A)1.
• B)2.
• C)10.
• D)none of the statements associated with this question are correct.

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