Suppose That Production for Good X Is Characterized by the Following

question 70

Multiple Choice

Suppose that production for good X is characterized by the following production function,Q = K^0.5L^0.5,where K is the fixed input in the short run.If the per-unit rental rate of capital,r,is $15 and the per-unit wage,w,is $25,then the average fixed cost of using 9 units of capital and 81 units of labor is:

• A) $5.
• B) $75.
• C) $80.
• D) There is insufficient information to determine the average fixed costs.

---

Definitions:

Hispanics

People from, or descendants of, Spanish-speaking populations, primarily found in Latin America and the United States.

Children Under 18

Individuals who are in the age group that legally categorizes them as minors in most jurisdictions.

Poverty Rate

The percentage of the population that lives below the nation's official poverty line, indicating the proportion of people living in poverty.

Conservatives

Individuals or political groups favoring traditional views and values, often resistant to change and advocating for the preservation of heritage and established practices.