The Production Function Is F (L, M)= 4L^1/2M^1/2, Where L

question 1

Multiple Choice

The production function is f (L, M) = 4L^1/2M^1/2, where L is the number of units of labor and M is the number of machines used.If the cost of labor is $49 per unit and the cost of machines is $16 per unit, then the total cost of producing 5 units of output will be

• A)$70.
• B)$162.50.
• C)$80.
• D)$140.
• E)None of the above.

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Artifact Theory

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