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Refer to the Following:
a Firm Estimates Its Long-Run Production Q=0.0075K3L3+12K2L2Q = - 0.0075 K ^ { - 3 } L ^ { 3 } + 12 K ^ { 2 } L ^ { 2 }

Question 54

Multiple Choice

Refer to the following:
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:

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