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    Microeconomics Study Set 32
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    Exam 6: Producer Behavior
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    Use the Following to Answer Question
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Use the Following to Answer Question

Question 62

Question 62

Essay

Use the following to answer question:
Figure 6.16 Use the following to answer question: Figure 6.16   -(Figure 6.16) Consider the production function Q = L<sup>0.5</sup>K<sup>0.5</sup>, with MP<sub>K</sub> = L<sup>0.5</sup>/K<sup>0.5</sup> and MP<sub>L </sub>= K<sup>0.5</sup>/L<sup>0.5</sup>.
-(Figure 6.16) Consider the production function Q = L0.5K0.5, with MPK = L0.5/K0.5 and MPL = K0.5/L0.5. Use the following to answer question: Figure 6.16   -(Figure 6.16) Consider the production function Q = L<sup>0.5</sup>K<sup>0.5</sup>, with MP<sub>K</sub> = L<sup>0.5</sup>/K<sup>0.5</sup> and MP<sub>L </sub>= K<sup>0.5</sup>/L<sup>0.5</sup>.

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