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

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter7: Production And Cost In The Firm

Section: Chapter Questions

Problem 19PAE

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Question

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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