15 is B, answer 16 only a negative sign to indicate that.)15. For this question use this aggregate production function as a model of output.Y = A x VK × vĪThe marginal product of capital can be defined as the extra output (Y) that would be produced if youincreased the capital (K) by one unit. For simplicity assume A = L = 1. Fill in the MPK for each level ofcapital in the table.KMPK149.What do you notice about the MPK as K increases while Land A are held fixed?a. it gets smaller and smallerb. it gets larger and largerc. it stays the same without any changed. it goes down and then back up 16. (continued) What if the TEP increases? Fill in the table below to study that. What best describes theMPKS in the higher TFP column?KMPK for TFP = 1MPK for TFP = 249.a. the MPKS are all higherb. the MPKS are all lowerC. some of them are higher and some are lower

Given Production function Y=AKL

16. (continued) What if the TEP increases? Fill in the table below to study that. What best describes the MPKS in the higher TFP column? K MPK for TFP = 1 MPK for TFP = 2 1 4 9. a. the MPKS are all higher

16. (continued) What if the TEP increases? Fill in the table below to study that. What best describes the MPKS in the higher TFP column? K MPK for TFP = 1 MPK for TFP = 2 1 4 9. a. the MPKS are all higher

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

15 is B, answer 16 only

16. (continued) What if the TEP increases? Fill in the table below to study that. What best describes the
MPKS in the higher TFP column?
K
MPK for TFP = 1
MPK for TFP = 2
4
9.
a. the MPKS are all higher
b. the MPKS are all lower
C. some of them are higher and some are lower

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