Suppose that the production function is What is the average product of labor AP₁, holding capital fixed at K? O A. APL =q/L. O B. O C. APL = L-0.50 0.50 APL = 0.50L-0.500.50 O D. Both a and b. O E. All of the above. q=L0.50 0.50
Suppose that the production function is What is the average product of labor AP₁, holding capital fixed at K? O A. APL =q/L. O B. O C. APL = L-0.50 0.50 APL = 0.50L-0.500.50 O D. Both a and b. O E. All of the above. q=L0.50 0.50
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Suppose that the production function is
What is the average product of labor AP₁, holding capital fixed at Â?
O A. APL =q/L.
B.
AP₁ = L-0.50 0.50
APL = 0.50L-0.500.50
D. Both a and b.
E. All of the above.
q=L0.50 0.50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1858a710-c111-4513-9004-6c10bf7d1d6e%2F50303c7f-8e93-4798-8e3c-533493d3c9fc%2Ft6k8dl_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose that the production function is
What is the average product of labor AP₁, holding capital fixed at Â?
O A. APL =q/L.
B.
AP₁ = L-0.50 0.50
APL = 0.50L-0.500.50
D. Both a and b.
E. All of the above.
q=L0.50 0.50
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