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Crazy Bob fixes fender benders. At his auto body shop, the production function showing the number of cars Crazy Bob repaired each year is Q
Crazy Bob fixes fender benders. At his auto body shop, the production function showing the number of cars Crazy Bob repaired each year is Q = K0.5L0.5, where K is the number of welding machines and L is the number of employees. Currently K = 9.
1.What is the equation for Crazy Bob's short-run production function expressed as Q and a function of L only.
2.What is the totalnumber of cars that Crazy Bob can repair when L = 4?
3.What is the MPLfor the 3rd worker (rounding is fine)?
4.What is the APLfor the 4th worker?
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