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

question 29

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 $12.How many units of labor will the firm hire?

• A)54
• B)13.50
• C)27
• D)81
• E)None of the above.

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Definitions:

Selective Distribution

A distribution strategy where a company distributes its products through a limited number of channels or retailers to maintain a certain level of brand exclusivity.