The production function for good X in the table below exhibits increasing marginal returns to capital over what outout range? Production Function for Good X Choose Multiple Choice: • Between o and 1,524 • Between 2,391 and 3,048 • Between o and 2,991 • Between 3,016 and 2,945 L MPK- (AQ/ AK) AP-(Q/K) Marginal Product of Capital Average Product of Capital Labor Capital Output 10 57 5.7 5.70 20 324 26.7 16.20 30 657 33.3 40 1,072 41.5 26.80 5e 1,524 45.2 30.48 1,976 45.2 32.93 70 2,391 41.5 34.16 se 2,724 33.3 34.05 90 2,991 A 33.23 100 3,048 5.7 30.48 110 3,e16 -3.2 27.42 120 2,945 -7.1 24.54
The production function for good X in the table below exhibits increasing marginal returns to capital over what outout range? Production Function for Good X Choose Multiple Choice: • Between o and 1,524 • Between 2,391 and 3,048 • Between o and 2,991 • Between 3,016 and 2,945 L MPK- (AQ/ AK) AP-(Q/K) Marginal Product of Capital Average Product of Capital Labor Capital Output 10 57 5.7 5.70 20 324 26.7 16.20 30 657 33.3 40 1,072 41.5 26.80 5e 1,524 45.2 30.48 1,976 45.2 32.93 70 2,391 41.5 34.16 se 2,724 33.3 34.05 90 2,991 A 33.23 100 3,048 5.7 30.48 110 3,e16 -3.2 27.42 120 2,945 -7.1 24.54
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![The production function for good X in the table below exhibits increasing marginal returns to capital over
what outout range?
Production Function for Good X
Choose Multiple Choice:
Between o and 1,524
Between 2,391 and 3,048
Between o and 2,991
Between 3,016 and 2,945
L*
K
MPx=(AQ/AK)
AP=(Q/K)
Marginal Product of
Capital
Average Product of
Capital
Labor
Capital
Output
10
57
5.7
5.70
20
324
26.7
16. 20
30
657
33.3
40
1,072
41.5
26.80
se
1,524
45.2
30.48
60
1,976
45.2
32.93
70
2,391
41.5
34.16
se
2,724
33.3
34.05
9e
2,991
A
33.23
1ee
3,848
5.7
30.48
9.
11e
3,016
-3.2
27.42
120
2,945
-7.1
24.54](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74826ac0-e001-4ae1-a4f1-8ec910ac8bad%2F4e56dd97-9385-49d3-bb51-e09a8e374959%2Fbfbhs8n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The production function for good X in the table below exhibits increasing marginal returns to capital over
what outout range?
Production Function for Good X
Choose Multiple Choice:
Between o and 1,524
Between 2,391 and 3,048
Between o and 2,991
Between 3,016 and 2,945
L*
K
MPx=(AQ/AK)
AP=(Q/K)
Marginal Product of
Capital
Average Product of
Capital
Labor
Capital
Output
10
57
5.7
5.70
20
324
26.7
16. 20
30
657
33.3
40
1,072
41.5
26.80
se
1,524
45.2
30.48
60
1,976
45.2
32.93
70
2,391
41.5
34.16
se
2,724
33.3
34.05
9e
2,991
A
33.23
1ee
3,848
5.7
30.48
9.
11e
3,016
-3.2
27.42
120
2,945
-7.1
24.54
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