Question: 20. You are given the following short-run production function for the rm: Q = 24L (0.01)( L2 ), where L = number of workers hired

20. You are given the following short-run production function for the rm: Q = 24L (0.01)( L2 ), where L = number of workers hired per day, Q = output per day. The rm is a perfect competitor in both the output & input (i.e. labour) markets. The price of output is $10.00 per unit and labour costs $20.00 per day, the number of workers hired per day by the rm will be: A) 100 B) 200 C) 400 D) 600 E) 800 F) 900 G) 1000 H) 1100 I) 1300 J) None of the above
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