In Problem 1, the Production Function Is Given by F(L)

question 15

Multiple Choice

In Problem 1, the production function is given by F(L) . Suppose that the cost per unit of labor is $12 and the price of output is 12, how many units of labor will the firm hire?

• A) 32
• B) 192
• C) 64
• D) 128
• E) None of the above.

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Definitions:

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A concept in psychology referring to the realization or fulfillment of one's talents and potentialities, considered as a drive or need present in everyone.

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A theory that suggests learning occurs in a social context and involves observational learning, imitation, and modeling.

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