Suppose a Production Function for a Firm Takes the Following

question 132

Multiple Choice

Suppose a production function for a firm takes the following algebraic form: Q = (0.5) KL - 40L,where Q is the output of paintbrushes per week.Now suppose the firm is operating with 100 units of capital (K = 100) and 30 000 units of labour (L = 30 000) .What is the output of paintbrushes per week?

• A)30 000
• B)300 000
• C)1 200 000
• D)1 500 000
• E)3 000 000

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Definitions:

Leadership Styles

Various methods or approaches adopted by leaders to guide, direct, and influence the work and behavior of others.

Ethical Problems

Moral dilemmas or issues that arise in a business or professional setting, requiring consideration of right and wrong conduct.

Exchange Relationship

Relationships where interactions are based on a balance of benefits and costs between the parties involved.

Servant Leadership

A leadership approach prioritizing serving others above all, setting it apart from conventional leadership that centers on the prosperity of the company or organization.