Touchie MacFeelie's Production Function Is 0

question 24

Multiple Choice

Touchie MacFeelie's production function is 0.1J^1/2 L^3/4, 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

• A)3,720 dollars.
• B)3,696 dollars.
• C)1,848 dollars.
• D)5,544 dollars.
• E)924 dollars.

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Definitions:

Total Sum

The aggregate or overall total of a series of numbers or quantities.

Squares

In mathematics, the result of multiplying a number by itself.

Factor A

Represents an independent variable or input in an experiment or study that is manipulated to observe its effect on a dependent variable.

Residual Variance

The variance in observations not explained by the independent variables in a regression model, representing the unpredicted part of a dependent variable.