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Joe owns a coffee house and produces coffee drinks under the production function q=5KL where q is the number of cups generated per hour, K
Joe owns a coffee house and produces coffee drinks under the production function q=5KL where q is the number of cups generated per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor). What is the marginal product of labor? a) MP=5 b)MP=5k c)MP=5l d)MP=5K/L
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Real Estate Principles A Value Approach
Authors: David C Ling, Wayne Archer
5th edition
77836367, 978-0077836368
