A firm estimates its long-run production function to be Q = -0.0050 K³L³ + 15 K²L² Suppose the firm employs 10 units of capital. At product of labor begins to diminish. A) 150 B) 66.67 C) 1000 D) 100 E) 200 units of labor, marginal

A firm estimates its long-run production function to be Q = -0.0050 K³L³ + 15 K²L² Suppose the firm employs 10 units of capital. At product of labor begins to diminish. A) 150 B) 66.67 C) 1000 D) 100 E) 200 units of labor, marginal

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 3SQP

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Question

A firm estimates its long-run production function to be
Q = -0.0050 K³L³ + 15 K²L²
Suppose the firm employs 10 units of capital. At
product of labor begins to diminish.
A) 150
B) 66.67
C) 1000
D) 100
E) 200
I
units of labor, marginal

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