The production function is f (L, M) = 4 , 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.

Question

The production function is f (L, M) = 4  , 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.

Quizplus · Accepted Answer

The Answer of The production function is f (L, M) = 4  , 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.

The Production Function Is F (L, M) = 4