Hand written solutions are strictly prohibited. In this problem why would L be multiplied by 0.5 if we're following the product rule? (n x^(n-1)) Ex: 10K^0.5 (0.5L^(0.5-1))What happened to the 0.5 in front of L?60L-0.5Correct30L0.530L-0.5Suppose 9 = 10K0.5 10.5. What is the averageproduct of labor if K = 36?6010.5computeAPL =IncorrectTo find the average product of labor, we willAPL = 1.3c10K0.5 0.5L=60LNext, we can plug in K = 36. (Recall that360.5√36= 6.)= 10K0.5 L(0.5-1) = 10K0.5 L 0.5APL 10.360.5 L 0.5 10.6L-0.5 = 60L-0.5CONTINUE

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Suppose 9 = 10K0.5 10.5 product of labor if K = 362 What is the average

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

Hand written solutions are strictly prohibited.

In this problem why would L be multiplied by 0.5 if we're following the product rule? (n x^(n-1)) Ex: 10K^0.5 (0.5L^(0.5-1))
What happened to the 0.5 in front of L?
60L-0.5
Correct
30L0.5
30L-0.5
Suppose 9 = 10K0.5 10.5. What is the average
product of labor if K = 36?
6010.5
compute
APL =
Incorrect
To find the average product of labor, we will
APL = 1.
3
c
10K0.5 0.5
L
=
60L
Next, we can plug in K = 36. (Recall that
360.5
√36= 6.)
= 10K0.5 L(0.5-1) = 10K0.5 L 0.5
APL 10.360.5 L 0.5 10.6L-0.5 = 60L-0.5
CONTINUE

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