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For a standard Cobb Douglas production function which of the following is true: a. The ratio of the marginal product of labour to the marginal product of capital is constant. O b. Marginal product of labour = Marginal product of capital %3D Oc. Marginal product of capital Average product of capital O d. None of the other answers are correct.

For a standard Cobb Douglas production function which of the following is true: a. The ratio of the marginal product of labour to the marginal product of capital is constant. O b. Marginal product of labour = Marginal product of capital %3D Oc. Marginal product of capital Average product of capital O d. None of the other answers are correct.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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For a standard Cobb Douglas production function which of the following is true: O a. The ratio of the marginal product of labour to the marginal product of capital is constant. O b. Marginal product of labour = Marginal product of capital Oc. Marginal product of capital = Average product of capital O d. None of the other answers are correct. When the nominal exchange decreases from 7.5 renminbi per dollar to 5 renminbi per dollar, the dollar has (been considered): Select one: O a. appreciated O b. become undervalued Oc. depreciated O d. become overvalued Total production in the economy is described by the production function Y= A KL Capital in use is equal to 25 units; labour in use is equal to 25 units; A is equal to 2 units; and a = 0.5. If both capital and labour are increased to 50 units each Select one: O a output increases from 50 to 100 units O b. output increases from 625 units to 2500 units Oc. output increases from 25 to 50 units Od. output increases from 50 units to 200 units
Transcribed Image Text:For a standard Cobb Douglas production function which of the following is true: O a. The ratio of the marginal product of labour to the marginal product of capital is constant. O b. Marginal product of labour = Marginal product of capital Oc. Marginal product of capital = Average product of capital O d. None of the other answers are correct. When the nominal exchange decreases from 7.5 renminbi per dollar to 5 renminbi per dollar, the dollar has (been considered): Select one: O a. appreciated O b. become undervalued Oc. depreciated O d. become overvalued Total production in the economy is described by the production function Y= A KL Capital in use is equal to 25 units; labour in use is equal to 25 units; A is equal to 2 units; and a = 0.5. If both capital and labour are increased to 50 units each Select one: O a output increases from 50 to 100 units O b. output increases from 625 units to 2500 units Oc. output increases from 25 to 50 units Od. output increases from 50 units to 200 units
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