Please Answer the following Thank you!
Consider a firm with production function f(L, K)=3L+8K. Assume that capital is fixed at K=12. Assume also that the price of capital r=10 and the price of labor w=3. Then, the average cost of producing q units is?
A
AC(q)=24/q+3
B
AC(q)=88/q+1/12
C
AC(q)=24/q+1
D
AC(q)=114/q+9/8
E
AC(q)=24/q+q
Consider a firm with production function f(L, K)=3L+8K. Assume that capital is fixed at K=12. Assume also that the price of capital r=10 and the price of labor w=3. Then, the cost of producing q units is?
A
C(q)=88+q/12
B
C(q)=24+3q
C
C(q)=114+9q/8
D
C(q)=24+q2
E
C(q)=24+q
Consider a firm with production function f(L, K)=3L+8K. Assume that capital is fixed at K=12. Assume also that the price of capital r=10 and the price of labor w=3. Then, the average fixed cost of producing q units is?
A
F=100/q.
B
F=36/q.
C
F=40/q.
D
F=120/q.
E
F=80/q.
Please Answer the following Thank you!
Consider a firm with production function f(L, K)=3L+8K. Assume that capital is fixed at K=12. Assume also that the price of capital r=10 and the price of labor w=3. Then, the average cost of producing q units is?
A |
AC(q)=24/q+3 |
|
B |
AC(q)=88/q+1/12 |
|
C |
AC(q)=24/q+1 |
|
D |
AC(q)=114/q+9/8 |
|
E |
AC(q)=24/q+q |
Consider a firm with production function f(L, K)=3L+8K. Assume that capital is fixed at K=12. Assume also that the price of capital r=10 and the price of labor w=3. Then, the cost of producing q units is?
A |
C(q)=88+q/12 |
|
B |
C(q)=24+3q |
|
C |
C(q)=114+9q/8 |
|
D |
C(q)=24+q2 |
|
E |
C(q)=24+q |
Consider a firm with production function f(L, K)=3L+8K. Assume that capital is fixed at K=12. Assume also that the price of capital r=10 and the price of labor w=3. Then, the average fixed cost of producing q units is?
A |
F=100/q. |
|
B |
F=36/q. |
|
C |
F=40/q. |
|
D |
F=120/q. |
|
E |
F=80/q. |