Suppose a Perfectly Competitive Firm's Production Function Is Q =

question 64

Multiple Choice

Suppose a perfectly competitive firm's production function is q = L^0.2K^0.6 and it takes the wage and price as given.Then the firm's long-run demand for labor as a function of K,w,and p is

• A)p5((0.2/w)²(0.6/r)³).
• B)p5((0.2/w)⁴(0.6/r)⁵).
• C)p5((0.2/w)⁵(0.6/r)⁴).
• D)p5((0.2/w)³(0.6/r)²).

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