The Production Function Is F (L, M) = 4

question 41

Multiple Choice

The production function is f (L, M) = 4 , where L is the number of units of labor and M is the number of machines used. If the cost of labor is $49 per unit and the cost of machines is $16 per unit, then the total cost of producing 5 units of output will be

• A) $70.
• B) $162.50.
• C) $80.
• D) $140.
• E) None of the above.

---

Definitions:

Rice

Rice is a staple food grain consumed worldwide, known for its versatility and ability to serve as a primary source of carbohydrate.

Bushels

A unit of volume used primarily in the United States for measuring agricultural commodities, such as grains.

Variables

Elements, features, or factors that are likely to vary or change and are often used in scientific or mathematical experiments and models to test hypotheses and outcomes.

Curve

In economics, it typically refers to a graphical representation of the relationship between two variables.