In Problem 1, the production function is given by F(L) . Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?
A) 64
B) 192
C) 32
D) 128
E) None of the above.

Question

In Problem 1, the production function is given by F(L)  . Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?
A) 64 
B) 192 
C) 32 
D) 128 
E) None of the above.

Quizplus · Accepted Answer

The Answer of In Problem 1, the production function is given by F(L)  . Suppose that the cost per unit of labor is $16 and the price of output is 16, how many units of labor will the firm hire?
A) 64 
B) 192 
C) 32 
D) 128 
E) None of the above.

In Problem 1, the Production Function Is Given by F(L)