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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

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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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Capital (K) 20 C2 18 16 14 12 10 CA Ca Labor (C) 2 4 6 8 10 12 14 16 18 20Capital (K) 40 36 32 28 24 B 20 16 12 A 8 Q = 500 4 4 8 12 16 20 24 28 32 36 40 Labor (L)(a) Capital (K) 20 16 12 Q = 50 Q = 20 4 8 10 12 16 20 24 28 Labor (I)\fOutput (Q) 3 2 1.73 Production function 1.41 - - - 2 5 Labor (D)

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