Question
The production function at Ginko's Copy Shop is Q = 1000 x minimum (L, 3K) Where Q = copies per hour, L is the number
The production function at Ginko's Copy Shop is
Q = 1000 x minimum (L, 3K)
Where Q = copies per hour, L is the number of workers, and K is the number of copy machines.
(a) If L = 4 and K = 1, what is the value of Q? Please show your calculations.
(b) If L = 5 and K = 1, what is the value of Q? Please show your calculations.
(c) If L = 4 and K = 2, what is the value of Q? Please show your calculations.
(d) What is the additional output when one additional unit of labor is hired, and capital remains
equal to 1?
(e) What is the additional output when one additional unit of capital is used, and labor remains
equal to 4?
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