For a linear production function, q = f(L,K) = 4L + 2K, what is the short-run production function given that capital is fixed at = 50?
A) q = 4L + 100
B) q = 4L + 50
C) q = 4L
D) q = 104
A
You might also like to view...
If workers expect inflation, and tend to overestimate actual inflation when they negotiate wage increases, the result will be a continuing
a. shift of AD to the left. b. shift of AD to the right. c. recessionary gap. d. inflationary gap.
In the above figure for a monopolistically competitive firm, the total economic profit at the profit-maximizing point is
A. $0. B. $300. C. $360. D. $240.
Refer to the information provided in Figure 7.11 below to answer the question(s) that follow. 
Figure 7.11
Refer to Figure 7.11. If the firm's cost of capital is $15 per unit and its cost of labor is $30 per unit, the isocost line represents a total cost of
A. $2,000. B. $3,000. C. $6,000. D. $8,000.
Currently a country has real GDP per person of 500 . Raising capital per worker by one would increase output per worker by 4 . Other things the same, which of the following long-run combinations are consistent with the effects of this country increasing its saving rate?
a. real GDP per person is 520 and raising capital per worker by one would increase output per worker by 3 b. real GDP per person is 520 and raising capital per worker by one would increase output per worker by 5 c. real GDP per person is 480 and raising capital per worker by one would increase output per worker by 3 d. real GDP per person is 480 and raising capital per worker by one would increase output per worker by 5