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    Managerial Economics and Business Strategy Study Set 1
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    Exam 5: The Production Process and Costs
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    Suppose the Production Function Is Given by Q = 3K
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Suppose the Production Function Is Given by Q = 3K

Question 168

Question 168

Multiple Choice

Suppose the production function is given by Q = 3K + 4L.What is the average product of capital when 5 units of capital and 10 units of labor are employed?


A) 3
B) 4
C) 11
D) 45

Correct Answer:

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