If the production function is Q = K.5L.5 and capital is fixed at 1 unit,then the average product of labor when L = 25 is:
A) 2/5.
B) 1/5.
C) 10.
D) None of the answers are correct.
Correct Answer:
Verified
Q1: For the cost function C(Q)= 100 +
Q3: Suppose the production function is Q =
Q4: The production function for a competitive firm
Q5: For a cost function C = 100
Q6: The production function Q = L.5K.5 is
Q7: For the cost function C(Q)= 100 +
Q8: Suppose the production function is given by
Q9: Suppose the production function is given by
Q10: You are an efficiency expert hired by
Q11: For a cost function C = 100
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents