Question: The production function for a competitive firm is Q = K .5 L .5 . The firm sells its output at a price of $10,

The production function for a competitive firm is Q = K^.5L^.5. The firm sells its output at a price of $10, and can hire labor at a wage of $5. Capital is fixed at one unit. The profit-maximizing quantity of labor is:

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5. It is the needs of the individual that are important.

6. It is what the person has previously done for the group that is the deciding factor.

3. It is the commitment you show that is the deciding factor.