Question 14 A large enough avoidable fixed cost may lead to a firm producing O output as costs would be too large. True False Question 15 Consider a partnership that owns a coffee shop. Their production function is Q(L,K)2L05K 0.5 What is the total cost of the least cost production method of producing 145 cups of coffee a week if W-100 and R-50 per week? If your answer is slightly off from rounding differences, select the closest value. OC=12,585 ⒸC=10,254 C=9,855 C=20,565

Question 14 A large enough avoidable fixed cost may lead to a firm producing O output as costs would be too large. True False Question 15 Consider a partnership that owns a coffee shop. Their production function is Q(L,K)2L05K 0.5 What is the total cost of the least cost production method of producing 145 cups of coffee a week if W-100 and R-50 per week? If your answer is slightly off from rounding differences, select the closest value. OC=12,585 ⒸC=10,254 C=9,855 C=20,565

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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