Suppose that the firm's production function is q = 5LK. In the short run the amount of capital is fixed at K = 8. How much labor (L) is needed to produce 5000 units per day? O A. 125 В. 25 O C. 40 O D. 150

Suppose that the firm's production function is q = 5LK. In the short run the amount of capital is fixed at K = 8. How much labor (L) is needed to produce 5000 units per day? O A. 125 В. 25 O C. 40 O D. 150

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that the firm's production function is q = 5LK. In the short run the amount of
capital is fixed at K = 8. How much labor (L) is needed to produce 5000 units per
day?
O A. 125
В. 25
O C. 40
O D. 150

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