3) Camel Records produces records according to Q = 4L-0.15L2. If labor costs $5 and (1pts) records sell for $2, the opti

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3 Camel Records Produces Records According To Q 4l 0 15l2 If Labor Costs 5 And 1pts Records Sell For 2 The Opti 1 (47.49 KiB) Viewed 18 times

3) Camel Records produces records according to Q = 4L-0.15L2. If labor costs $5 and (1pts) records sell for $2, the optimal quantity of labor is 02 05 10 17 4) Economies of scale are said to exist whenever (1pts) the learning curve is upward sloping increases in output bring about higher output O Increases in output bring about higher input prices the long-run average cost curve is downward sloping (1pts) 5) if output is produced according to Q-5Lk (L is the quantity of labor and k is the quantity of capital), the price of K is $12, and the price of L is 56, then the cost minimizing combination of K and L capable of producing 4,000 units of output is OL-25 and k 32 DL 10 and k = 80 OL-20 and k = 40 L-40 and ki 20