Suppose a Production Function for a Firm Takes the Following

question 64

Multiple Choice

Suppose a production function for a firm takes the following algebraic form: Q = 2KL - (0.2) L²,where Q is the output of sweaters per day.Now suppose the firm is operating with 8 units of capital (K=8) and 10 units of labour (L=10) .What is the output of sweaters?

• A)30 sweaters per day
• B)60 sweaters per day
• C)80 sweaters per day
• D)140 sweaters per day
• E)155 sweaters per day

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Definitions:

Directive Style

A leadership approach focused on providing specific instructions and closely supervising tasks, often used in situations requiring clear direction.

Flow

A state of mind in which a person becomes fully immersed in an activity, experiencing a feeling of energized focus, full involvement, and enjoyment in the process of the activity.

Social Leadership

A leadership approach focused on creating, influencing, and sustaining relationships within groups or communities to achieve a collective goal.

Mediate Dispute

The act of resolving a conflict or disagreement between two or more parties through the intervention of a neutral third party.