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Author Question: Given the production function q = 4L + K, what is the marginal product of labor when capital is ... (Read 88 times)

ahriuashd

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  • Posts: 535
on: Jul 1, 2018
Given the production function q = 4L + K, what is the marginal product of labor when capital is fixed at 50?
 
  A) 54
  B) 4
  C) 50
  D) 250

Question 2

A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. The monopoly's profit maximizing output is
 
  A) 5.
  B) 10.
  C) 15.
  D) 20.


perkiness

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


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