Output for a Simple Production Process Is Given by Q

question 23

Multiple Choice

Output for a simple production process is given by Q = 2KL, where K denotes capital, and L denotes labor. The price of capital is $25 per unit and capital is fixed at 8 units in the short run. The price of labor is $5 per unit. What is the variable cost of producing 80 units of output?

• A)$200
• B)$33
• C)$25
• D)$85

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Definitions:

Papilledema

Swelling of the optic disc due to increased intracranial pressure, which can be observed through an eye examination and may indicate serious medical conditions.

Intracranial Pressure

Pressure within the skull affecting the brain, can be altered by brain injuries, illnesses, or conditions, leading to symptoms such as headache, vomiting, or changes in consciousness.

Acute-Angle Glaucoma

A condition characterized by a rapid increase in eye pressure due to a sudden blockage of the fluid passages in the eye, requiring immediate treatment.

Color Vision

The capability of the eyes to distinguish different wavelengths of light, enabling the perception of various colors.