Multiple Choice
The marginal physical product of labor is
A) the slope of the total output curve at the relevant point.
B) the negative of the slope of the total output curve at the relevant point.
C) the slope of the line connecting the origin with the relevant point on the total output curve.
D) the negative of the slope of the line connecting the origin with the relevant point on the total output curve.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: A firm is defined as<br>A)a president,some vice
Q12: If Q = K<sup>1/3</sup>L<sup>2 </sup>the MP<sub>L</sub> is<br>A)constant<br>B)diminishing<br>C)increasing
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
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
Q18: If production is given by Q =
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
Q24: Suppose Q = K<sup>a</sup>L<sup>b</sup>,if a + b