Suppose Woody Chuck's Business Is to Clear Trees for Housing $q = .01 \sqrt { L }$

question 20

Multiple Choice

Suppose Woody Chuck's business is to clear trees for housing developments.Given the constraints of fixed capital,the production function is $q = .01 \sqrt { L }$ .Suppose Woody Chuck's is one of many firms clearing land and that the market price per cleared lot is $5000.(Note $M P _ { L } = \frac { .005 } { \sqrt { L } }$ ) How many workers will Woody Chuck hire at w = 5?

• A)1
• B)4
• C)16
• D)25

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Definitions:

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