Suppose the production function is given by Q = 4K + 6L.What is the average product of capital when 10 units of capital and 5 units of labor are employed?
A) 14
B) 10
C) 7
D) 5
Correct Answer:
Verified
Q44: Changes in the price of an input
Q116: Economies of scale exist whenever long-run average
Q117: Cost complementarity exists in a multiproduct cost
Q118: The long-run average cost curve defines the
Q119: Suppose the cost function is C(Q)= 50
Q120: The difference between average total costs and
Q122: The inputs that a manager uses to
Q123: For the cost function C(Q)= 75 +
Q125: The production function for good X
Q126: The average product of capital of
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