The Production Function Is F (L, M)=5L^1/2M^1/2, Where L Is

question 20

Multiple Choice

The production function is f (L, M) =5L^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 $9 per unit and the cost of using machines is $64 per machine, then the total cost of producing 12 units of output is

• A)$438.
• B)$108.
• C)$576.
• D)$115.20.
• E)$57.60.

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Definitions:

Neuroscience

The scientific study of the nervous system, aiming to understand the biological basis of consciousness, perception, memory, and other mental capabilities.

Negative Correlation

A connection between two factors where as one factor rises, the other falls.

Variable

Any condition or factor that can be manipulated, controlled, or measured.

Research Method

Various techniques and strategies used by scientists to gather and analyze data in order to investigate specific questions or hypotheses.