If Q = K1/3L2 the MPL is
A) constant
B) diminishing
C) increasing
Correct Answer:
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Q14: When isoquants get progressively further apart there
Q15: If Q = K1/3L2 the MPK is
A)constant
B)diminishing
C)increasing
Q16: A firm is defined as
A)a president,some vice
Q17: If production is given by Q =
Q18: Suppose electricity (E)can be produced with coal
Q20: If Q = K1/2L1/2 the MPL is
A)constant
B)increasing
C)diminishing
Q21: If more and more labor is employed
Q22: A firm's rate of technical substitution is
Q23: A fixed-proportion production function has isoquants that
Q24: The production function
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