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Let 0 =AK"L!-a be a production function. The average product of factor L (labour force) is equal to: O a. AK“ O b. A(KL)“-1 Oc (1-a)a(K/L) -- (K/1)" d. A

Let 0 =AK"L!-a be a production function. The average product of factor L (labour force) is equal to: O a. AK“ O b. A(KL)“-1 Oc (1-a)a(K/L) -- (K/1)" d. A

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Let    be a production function. The average product of factor L (labour force) is equal to:

Let 0 =AKªL'-« be a production function. The average product of factor L (labour force) is equal to: O a. AK“ O b. A(KL)“-1 O (1-4)A(K/L)'-- c. O d.^(K/L)*
Transcribed Image Text:Let 0 =AKªL'-« be a production function. The average product of factor L (labour force) is equal to: O a. AK“ O b. A(KL)“-1 O (1-4)A(K/L)'-- c. O d.^(K/L)*
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