Question: Question 1: Multiple choice questions (2.0 points each) 1. Assume that the production function is Y = 100%KN and we have K = 4 and

Question 1: Multiple choice questions (2.0 points each) 1. Assume that

Question 1: Multiple choice questions (2.0 points each) 1. Assume that the production function is Y = 100%KN and we have K = 4 and N = 16. The mark-up is 20 percent and the wage is 100. What is the price? A) 2 B) 2.8 C) 4 D) 4.8 E) 5 F) 6

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