If Output Is Produced According to Q = 4L

question 54

Multiple Choice

If output is produced according to Q = 4L + 6K, the price of K is $12, and the price of L is $20, then the cost-minimizing combination of K and L capable of producing 96 units of output is

• A)L = 20 and K = 12.
• B)L = 0 and K = 16.
• C)L= 24 and K = 16.
• D)L =12 and K = 8.
• E)L = 24 and K = 0.

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Definitions:

Formal Operational Stage

is the fourth and final stage in Piaget's theory of cognitive development, where individuals develop the ability to think abstractly, reason logically, and use deductive reasoning.

Concrete Operations

A stage in Jean Piaget's theory of cognitive development typically occurring between ages 7 and 11, where children develop logical thinking but still struggle with abstract concepts.

Digit Span Performance

A cognitive test that measures short-term memory capacity by having individuals recall sequences of numbers.

Cross-Cultural Research

The study of similarities and differences among people from different cultural backgrounds, often to understand human behavior and social norms.