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Scenario 2: The production function for earthquake detectors (Q) is given as follows:Q = 4K1/2L1/2 , where K is the amount of capital employed and L is the amount of labor employed. The price of capital, PK, is $18 and the price of labor, PL, is $2.Refer to Scenario 2. Suppose that you receive an order for 60 earthquake detectors. How much labor will you use to minimize the cost of 60 earthquake detectors?



A. A. 1
B. B. 5
C. C. 10
D. D. 45
E. E. none of the above

This question is part of Chapter 7: Microeconomics
Asked by Twright, Last updated: Apr 06, 2020

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1 Answer

John Smith

John Smith

Answered Mar 18, 2017

D. 45
 

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