Examlex
Touchie MacFeelie's production function is 0.1J1/2 L3/4, where J is the number of old jokes used and L is the number of hours of cartoonists' labor.Touchie is stuck with 900 old jokes for which he paid 4 dollars each.If the wage rate for cartoonists is 6 dollars, then the total cost of producing 24 comics books is
Q4: the production function is given by f(x)=
Q5: A firm has the production function f(x,
Q7: Alice and Betsy are playing a game
Q9: Two firms, Wickedly Efficient Widgets (WEW)and Wildly
Q14: suppose that a new alloy is invented
Q16: A company can rent one of two
Q21: A firm has the production function $f(x<sub>1</sub>,
Q23: A firm has the production function f(x,
Q40: An industry has 1,000 firms, each with
Q43: For each of the following production functions,