Multiple Choice
For a fixed proportion production function,at the vertex of any of the (L-shaped) isoquants the marginal productivity of either input is
A) constant
B) zero.
C) negative.
D) a value that cannot be determined.
Correct Answer:
Verified
Correct Answer:
Verified
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
Q23: If more and more labor is employed
Q24: Suppose Q = K<sup>a</sup>L<sup>b</sup>,if a + b
Q24: Suppose Q = K<sup>a</sup>L<sup>b</sup>,if a + b
Q25: A firm's isoquant shows<br>A)the amount of labor
Q26: A production function measures how an individual
Q27: When isoquants get progressively further apart there