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

question 48

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.If the amounts of both factors can be varied and if the cost of labor is $64 per unit and the cost of using machines is $1 per machine, then the total cost of producing 20 units of output is

• A)$80.
• B)$650.
• C)$20.
• D)$320.
• E)$40.

---

Definitions:

Distinctive Competition

Is the unique competitive edge or positioning that sets an entity apart from its competitors in the marketplace.

Unique

Being the only one of its kind; without equal or equivalent in characteristic or importance.

Starbucks Coffee

An international coffee company and coffeehouse chain known for its specialty coffee drinks.

Geographic

Relating to geography, the study of the physical features of the earth and its atmosphere, and of human activity as it affects and is affected by these.