Solved

Suppose the Production Function for a Bakery Is

Question 64

Multiple Choice

Suppose the production function for a bakery is:
Q = 4K0.4L0.6
Where Q is the number of loaves of bread produced per day, K is the number of ovens, and L is the number of workers employed. The function for the marginal rate of technical substitution is ____.


A) 2.4K0.4L-0.4
B) 1.6K-0.6L0.6
C) KL
D) (3/2) KL-1

Correct Answer:

verifed

Verified

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

Related Questions

Q59: The McCue Corporation is a house-painting business.

Q60: Suppose the firm's production function is Q

Q61: Suppose a firm's short-run production function is

Q62: Answer the following questions.<br>a. At Dippy's Amusement

Q63: Answer the following questions.<br>a. Mathematically, why would

Q65: Which of the following statements best exemplifies

Q66: A basic assumption of production is that

Q67: Which of the following is (are) example(s)

Q68: The production function for a firm is

Q69: Which situation will likely give rise to