finalsls

Suppose the production function is Q = min {K, 2L}. How much output is produced when 4 units of labor and 9 units of capital are employed?

• 9

• 4

• 8

• 2

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

• 4

• 3

• 7

• 45

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

• 3

• 45

• 11

• 4

Suppose the production function is given by Q = min {K, L}. How much output is produced when 10 units of labor and 9 units of capital are employed?

• 4

• 13

• 9

• 0

Suppose the production function is given by Q = min {K, L}. How much output is produced when 4 units of labor and 9 units of capital are employed?

• 9

• 4

• 0

• 13

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

• 4

• 45

• 3

• 11

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?

• 3

• 45

• 11

• 4

For the cost function C(Q) = 100 + 2Q + 3Q2 , the marginal cost of producing 2 units of output is:

• 2

• 14

• 3

• 12

For the cost function C(Q) = 100 + 2Q + 3Q2 , the average fixed cost of producing 2 units of output is:

• 50

• 100

• 3

• 2

For the cost function C(Q) = 100 + 2Q + 3Q2 , the total variable cost of producing 2 units of output is:

• 4

• 16

• 2

• 12