Solved

A Firm Estimates Its Long-Run Production Function to Be Q=0.0075K3L3+12K2L2Q = - 0.0075 K ^ { 3 } L ^ { 3 } + 12 K ^ { 2 } L ^ { 2 }

Question 25

Multiple Choice

A firm estimates its long-run production function to be Q=0.0075K3L3+12K2L2Q = - 0.0075 K ^ { 3 } L ^ { 3 } + 12 K ^ { 2 } L ^ { 2 } Suppose the firm employs 12 units of capital.The product curve(s) in the short-run are


A) TP = -12.96 L3 + 1,728L2.
B) AP = -12.96 L3 + 1,728L2.
C) MP = -38.88 L2 + 3,456L.
D) both a and b
E) both a and c

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions