Note:- Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality.Take care of plagiarism.Answer completely.You will get up vote for sure. Use the following production function Q=1.25K0.3L0.5 where the price of Q is $10, the wage paid to labor L is $15and rental rate for capital K is $30. Assume you can only use 6 units of capital L. How much revenue will the firmmake?20O 26.5O 30O 36.5

The production function is given as follows. The price of Q is $10 The wages paid to the labor L is…

Use the following production function Q=1.25K0.3L0.5 where the price of Q is $10, the wage paid to labor L is $15 and rental rate for capital K is $30. Assume you can only use 6 units of capital L. How much revenue will the firm make? 20 O 26.5 30 O 36.5

Use the following production function Q=1.25K0.3L0.5 where the price of Q is $10, the wage paid to labor L is $15 and rental rate for capital K is $30. Assume you can only use 6 units of capital L. How much revenue will the firm make? 20 O 26.5 30 O 36.5

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Note:-

Please refrain from offering handwritten solutions. Please ensure that your response maintains accuracy and quality.

Take care of plagiarism.

Answer completely.

You will get up vote for sure.

Use the following production function Q=1.25K0.3L0.5 where the price of Q is $10, the wage paid to labor L is $15
and rental rate for capital K is $30. Assume you can only use 6 units of capital L. How much revenue will the firm
make?
20
O 26.5
O 30
O 36.5

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