Question: The production function for comic books is CB = 4J 1/4 L 3/4 , where J is the number of jokes and L is the

The production function for comic books is CB = 4J1/4L3/4, where J is the number of jokes and L is the number of hours of cartoonists labor that is used. If jokes cost $3 each and cartoonists' labor costs $18/hour, then the cheapest way to produce comic books requires using jokes and labor in which ratio (i.e., what is J/L)?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!