If the linear production function is as follows: Q = 2 K + 16 L and the firm uses 2 units of capital and 3 units of labor. a) What is the average product of labor APL and the average product of capital APK? b) What is the marginal product of labor MPL and the marginal value of capital MPK?
Added by Debra R.
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\[ Q = 2(2) + 16(3) = 4 + 48 = 52 \] Show more…
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