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:

Doctors Per Capita

is a measure indicating the number of medical doctors (physicians) available per thousand people in a given population.

High-Income Countries

Nations with very high levels of Gross Domestic Product (GDP) per capita, reflecting substantial economic prosperity and industrial development.

Population Health

The health outcomes of a group of individuals, including the distribution of such outcomes within the group.

Social Rank

The position or status that an individual holds within a social hierarchy, influenced by factors such as wealth, occupation, and education.