In the Cobb-Douglas production function (Q - aLAK²): O a. a and b O b. the marginal product of labor (L) is equal to 1 O c. a and c O d. if the amount of labor input (L) is increased by 1 percent, the output will in e. the average product of labor (L) is equal to 32

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Consider the production function of the firm below. Which of the following is NOT true? The marginal product of labor at B is 70 units. The total product is increasing as inputs to production increase. The marginal product of capital at point D is 50. The marginal products of both labor and capital are always increasing.

Suppose a firm's production function is Q=200L +5L2-0.08L³. Which of the following is the Average Production of Labor (APL)? Oa. 200+10L-0.24L² Ob. 10L-0.24L² Oc. 5L-0.08L² Od. 200+5L-0.08L²

Consider this production function. Study hours 2. 4 10 11 12 14 15 or more 13 Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 1007 90 - 80 70 60 S0 40 30 20 10 Hours of study per day Select one or more: a. The average product of labour is falling as hours of study increase. O b. The marginal product of labour is constant as hours of study increase. O c. The marginal product of labour is rising as hours of study increase. U d. The marginal product of labour is zero beyond 15 hours. Final grade 9-

Pls explain in simplest way how the marginal product of labor and the average product of labor change as the quantity of labor employed increases (a) initially and (b) eventually

The figure shows the total product curve for different levels of a variable input, labor. Output Total Product curve АВ с D E Quantity of Labor In the figure, at point C O average product equals marginal product O marginal product is at a maximum total product is increasing at an increasing rate average product is declining but positive

QUESTION 20 According to the law of diminishing return in short run O If we double all inputs, output will decrease by more than double O If we double all inputs, output will increase by less than double O If we double all inputs, output will increase by double O as we hire more labors, while other inputs are fixed, the marginal product of exah extra labor will decrease QUESTION 21 Which of the following statements is true? The marginal and average product curves intersect at the maximum level of output. O The marginal product curve always has a positive slope. O At every output level the marginal product curve lies above the average product curve. O The marginal product = average product curves when average product is at its maximum. Click Save and Submit to save and submit. Click Save All Answers to save all answers. DEL

/SMHS Quia - Physical Sc... 0 Multiple Choice New Tab O MC If labor is the only variable input, the marginal product of labor is at a minimum at point b. minimum at point a ATC maximum at point a AVC Lecture Videos -... < Prev Saved 27 of 35 ⠀⠀

Consider the following Cobb-Douglas production function F(K, L) = AKa[(2-a) Which of the following is true about that production function a. It exhibits increasing returns to scale. O b. It exhibits changing returns to scale. It exhibits decreasing returns to scale. Oc. O d. It exhibits constant returns to scale.