Multiple Choice
A firm has the production function Q = X1/21X2.In the short run it must use exactly 15 units of factor 2.The price of factor 1 is $75 per unit and the price of factor 2 is $2 per unit.The firm's short-run marginal cost function is
A) MC(Q) = 10Q/15.
B) MC(Q) = 30Q1/2.
C) MC(Q) = 30 + 75Q2.
D) MC(Q) = 2Q.
E) MC(Q) = 15Q1/2.
Correct Answer:
Verified
Correct Answer:
Verified
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