Question
Please help to get the correct answers of the MCQ..thanks. 7.(Table: Capital and Labor XIV) Consider the production function shown in this table. Suppose the
Please help to get the correct answers of the MCQ..thanks.
7.(Table: Capital and Labor XIV) Consider the production function shown in this table.
Suppose the firm is using 1 unit of capital and 1 unit of labor. The marginal product of capital for K = 2 is ____.
31.78
41.42
26.79
40.24
8.(Table: Production Process I) Diminishing marginal returns to labor occur in production process _____, and diminishing marginal returns to capital occur in production process _____.
1; 1
2; 1
2; 3
1; 3
9.(Figure: Capital and Labor XI) Which of the following statements is (are) TRUE?
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