Touchie MacFeelie's Production Function Is , Where J Is

question 10

Multiple Choice

Touchie MacFeelie's production function is , where J is the number of old jokes used and L is the number of hours of cartoonists' labor. Touchie is stuck with 1,600 old jokes for which he paid 6 dollars each. If the wage rate for cartoonists is 5 dollars, then the total cost of producing 108 comics books is

• A) 15,007.50 dollars.
• B) 5,002.50 dollars.
• C) 10,113 dollars.
• D) 10,005 dollars.
• E) 2,501.25 dollars.

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Definitions:

Upward Communication

The process of information flow from the lower levels of a hierarchy to the upper levels within an organization, typically encompassing feedback, reports, or requests.

Open-door Policy

A management practice that encourages open and direct communication between employees and their supervisors or managers.

Formal Grievance Procedure

A systematic process provided by employers for employees to formally raise and resolve workplace disputes or complaints.

Market Penetration Rate

A measure used to determine the extent to which a product or service is known and used by customers within a particular market.