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The Short-Run Production Function for a Firm Is Given by Q

Question 96

Multiple Choice

The short-run production function for a firm is given by Q = 40L2/3. What is the average product?


A) APL = 16.67L
B) APL = 40/L
C) APL = 40/L1/3
D) APL = 1/40L

Correct Answer:

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