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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 2

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.Average product when 10 units of labor are employed is


A) 12,248
B) 13,142
C) 14,287
D) 15,984
E) 30,672

Correct Answer:

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