Output for a Simple Production Process Is Given by Q

question 67

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 total cost of producing 80 units of output?

• A)$525
• B)$200
• C)$233
• D)$225

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Definitions:

Remorse

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Manipulative

Employing unscrupulous, deceptive, or insidious means to influence or control others to one's own advantage.

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A personality disorder characterized by a long-term pattern of disregard for, or violation of, the rights of others, leading to significant social and interpersonal problems.

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