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Question 14 A large enough avoidable fixed cost may lead to a firm producing O output as costs would be too large. True False Question 15 Consider a partnership that owns a coffee shop. Their production function is Q(L,K)2L05K 0.5 What is the total cost of the least cost production method of producing 145 cups of coffee a week if W-100 and R-50 per week? If your answer is slightly off from rounding differences, select the closest value. OC=12,585 ⒸC=10,254 C=9,855 C=20,565

Question 14 A large enough avoidable fixed cost may lead to a firm producing O output as costs would be too large. True False Question 15 Consider a partnership that owns a coffee shop. Their production function is Q(L,K)2L05K 0.5 What is the total cost of the least cost production method of producing 145 cups of coffee a week if W-100 and R-50 per week? If your answer is slightly off from rounding differences, select the closest value. OC=12,585 ⒸC=10,254 C=9,855 C=20,565

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section12.4: Costs In The Short Run And In The Long Run
Problem 4QQ
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Question 14 A large enough avoidable fixed cost may lead to a firm producing 0 output as costs would be too large. True False Question 15 Consider a partnership that owns a coffee shop. Their production function is Q(L, K) 2L05 K 0.5 What is the total cost of the least cost production method of producing 145 cups of coffee a week if W=100 and R-50 per week? If your answer is slightly off from rounding differences, select the closest value. C=12,585 C=10,254 C-9,855 C-20,565 4
Transcribed Image Text:Question 14 A large enough avoidable fixed cost may lead to a firm producing 0 output as costs would be too large. True False Question 15 Consider a partnership that owns a coffee shop. Their production function is Q(L, K) 2L05 K 0.5 What is the total cost of the least cost production method of producing 145 cups of coffee a week if W=100 and R-50 per week? If your answer is slightly off from rounding differences, select the closest value. C=12,585 C=10,254 C-9,855 C-20,565 4
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