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 MP= (4Q/AK) AP=(Q/K) Marginal Product of Capital Average Product of Capital Labor Capital Output 9 10 57 5.7 5.70 20 324 26.7 16.20 9 30 657 33.3 40 1,e72 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 2,724 33.3 34.05 9 90 2,991 A 33.23 100 3,048 5.7 30.48 9 11e 3,016 -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 MP= (4Q/AK) AP=(Q/K) Marginal Product of Capital Average Product of Capital Labor Capital Output 9 10 57 5.7 5.70 20 324 26.7 16.20 9 30 657 33.3 40 1,e72 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 2,724 33.3 34.05 9 90 2,991 A 33.23 100 3,048 5.7 30.48 9 11e 3,016 -3.2 27.42 120 2,945 -7.1 24.54
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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