Multiple Choice
If production is given by Q = KL,doubling both inputs
A) more than doubles output.
B) exactly doubles output.
C) increases output but does not double it.
D) leaves output unchanged.
Correct Answer:
Verified
Correct Answer:
Verified
Q13: If Q = K<sup>1/3</sup>L<sup>2</sup> the MP<sub>K</sub> is<br>A)constant<br>B)diminishing<br>C)increasing
Q14: A firm's rate of technical substitution is
Q15: A technical innovation in the production of
Q16: The marginal physical product of labor is<br>A)the
Q17: If Q = K<sup>2</sup>L<sup>2</sup> the MP<sub>L</sub> is<br>A)constant<br>B)diminishing<br>C)increasing
Q19: Graphically,the average productivity of labor would be
Q20: If Q = K<sup>1/2</sup>L<sup>1/2</sup> the MP<sub>L</sub> is<br>A)constant<br>B)increasing<br>C)diminishing
Q22: For a fixed proportion production function,at the
Q23: If more and more labor is employed
Q24: Suppose Q = K<sup>a</sup>L<sup>b</sup>,if a + b