The Production Function Is F (L, M) = 5

question 17

Multiple Choice

The production function is f (L, M) = 5 , where L is the number of units of labor and M is the number of machines. If the amounts of both factors can be varied and if the cost of labor is $9 per unit and the cost of using machines is $64 per machine, then the total cost of producing 12 units of output is

• A) $438.
• B) $108.
• C) $576.
• D) $115.20.
• E) $57.60.

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