The Production Function in the Table Below Exhibits Decreasing Marginal
Question 13
Question 13
Multiple Choice
The production function in the table below exhibits decreasing marginal returns to capital over what output range? Production Function far God XL∗ Labor 9999999999999K Capital 0102030405060708090100110120Q Output 0573246571,0721,5241,9762,3912,7242,9913,0483,0162,945MK=(ΔQ/ΔK) Product of Capital −5.726.733.341.545.245.241.533.3A5.7−3.2−7.1MPK=(Q/K) Mverage Product of Capital −5.7016.20B26.8030.4832.9334.1634.0533.2330.4827.4224.54
A) Between 0 and 1,524 B) Between 0 and 2,991 C) Between 2,391 and 3,048 D) Between 3,016 and 2,945
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