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:

Reinforcement

A principle in behaviorism that strengthens a behavior by providing a consequence an individual finds rewarding.

Albert Bandura

A prominent psychologist known for his work on social learning theory and the concept of self-efficacy.

Conditioning Techniques

Methods used in behavioral psychology to learn or modify behaviors by associating them with certain stimuli, including classical and operant conditioning.

Behaviour Modification

Behavior modification involves the systematic application of learning principles and techniques to change maladaptive behaviors or encourage desirable ones.