Post a New Question

econ

posted by on .

Suppose the production function for widgets is given by:
Q = KL - 0.8K^2 - 0.2L^2
where Q represents the quantity of widgets produced, K represents the annual capital input and L represents annual labor input.

(a) For K = 10, what is the average productivity of labor equal to?
-do i substitute k=10 into Q, and then what do i do to find the average productivity of labor?

(b) At what level of labor input does this average productivity reach a maximum? How many widgets are produced at this point?

(c) Again assuming that K = 10, what is the marginal product of labor equal to?

  • econ - ,

    A.Q=40 &L=20
    B.Q=45 &L=25

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question