Suppose a Firm Has a Production Function Given by Q

question 39

Multiple Choice

Suppose a firm has a production function given by Q = 2(2L) ^0.5K^0.5.If the rental rate of capital is $100 per unit,the wage rate is $1,400 per week and the firm initially has 25 units of capital,what is the firm's short-run cost function?

• A) C(Q) = 2,500 + 7Q²
• B) C(L) = 2,500 + 1,400L
• C) C(Q) = 0.25 + 7Q²
• D) C(L) = 0.25 + 1,400L

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