A firm pays each worker (1.e, each unit of labour L) a wage w 4 and pays for each computer (i.e. each unit of capital K) a cost of r= 3. The firm has a production function Y K+2L and needs to produce Y= 12. Which of the following is correct? Select one answer: O The firm employs 6 workers and buys no computers. O The firm buys 6 computers and hires no workers. O The firm employs 12 workers and buys no computers. m buys 12 computers and hires no workers.

A firm pays each worker (1.e, each unit of labour L) a wage w 4 and pays for each computer (i.e. each unit of capital K) a cost of r= 3. The firm has a production function Y K+2L and needs to produce Y= 12. Which of the following is correct? Select one answer: O The firm employs 6 workers and buys no computers. O The firm buys 6 computers and hires no workers. O The firm employs 12 workers and buys no computers. m buys 12 computers and hires no workers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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