Output for a simple production process is given by q 2kl, Business Economics

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Output for a simple production process is given by q 2kl

Output for a simple production process is given by Q = 2KL, where K denotes capital, and L denotes labor. The price of capital is $25 per unit and capital is fixed at 8 units in the short run. The price of labor is $5 per unit. What is the total cost of producing 80 units of output? (need brief reason)

1. $525

2. $200

3. $233

4. $225

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Business Economics: Output for a simple production process is given by q 2kl

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Business Economics: Output for a simple production process is given by q 2kl

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