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QUESTION 4 A firm produces q with inputs labor L and materials M. The production function is q = 50(ML )0.5 + M + L
QUESTION 4 A firm produces q with inputs labor L and materials M. The production function is q = 50(ML )0.5 + M + L The MP for this production function is always a. rising for all values of L b. falling for all values of L c. constant for all values of L d Cannot tell O a Ob O c OdQUESTION 5 A firm produces q with inputs labor L and materials M. The production function is q = 50(ML )0.5 + M + L The MPL for this production function can be a. can be negative at a point b. will always be positive c. can be positive at a point d. will always be negative O a Ob OC Od
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