In workout problem 20.1, the production function is given by AL) = 6L2/3, Suppose that the cost per unit of labor is $12 and the price of output is 12, how many units of labor will the firm hire? %3D 32 O 192 O 64 O 128 Onone of the above

In workout problem 20.1, the production function is given by AL) = 6L2/3, Suppose that the cost per unit of labor is $12 and the price of output is 12, how many units of labor will the firm hire? %3D 32 O 192 O 64 O 128 Onone of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In workout problem 20.1, the production function is given by FAL) = 6L2/3, Suppose
that the cost per unit of labor is $12 and the price of output is 12, how many units of
labor will the firm hire?
%3D
32
192
64
128
none of the above

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