The Production Function Is Given by F(L)=6L^2/3

question 9

Multiple Choice

The production function is given by F(L) =6L^2/3.Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?

• A)64
• B)192
• C)32
• D)128
• E)None of the above.

---

Definitions:

Payment

The act of transferring money or its equivalent in return for goods, services, or fulfilling an obligation.

Land Resources

Natural resources encompassing geographical territories and the natural materials available within them, such as water, minerals, and fertile land used for agriculture.

Money

Anything that is generally accepted in exchange for goods and services.

Capital

Assets used for the production of goods and services, including machinery, buildings, and equipment.