The Production Function Is F (L, M)=4L^1/2M^1/2, Where L Is

question 41

Multiple Choice

The production function is f (L, M) =4L^1/2M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $36 per unit and the cost of machines is $4 per unit, then the total cost of producing 6 units of output will be

• A)$72.
• B)$36.
• C)$120.
• D)$24.
• E)None of the above.

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Early Adolescence

A developmental phase typically occurring between ages 10 to 14, marking the beginning of puberty and significant psychological and physical changes.

Interlocking Directorates

A situation where members of the board of directors of one company also serve on the board of directors of another company, potentially leading to conflicts of interest.

Sherman Act

A foundational antitrust law enacted in the United States in 1890 to prohibit monopolies and other practices that restrained trade.

Sherman Act

An antitrust law enacted in 1890 in the United States to prevent monopolistic business practices and foster competition in the marketplace.