The production function for good X in the table below exhibits increasing marginal returns to capital overwhat outout range?Production Function for Good XChoose Multiple Choice:Between o and 1,524Between 2,391 and 3,048Between o and 2,991Between 3,016 and 2,945L*KMPK=(AQ/AK)AP=(Q/K)Marginal Product ofAverage Product ofCapitalLaborCapitalOutputCapital10575.75.702032426.716.203065733.3401,07241.526.80se1,52445.230.486e1,97645.232.93702,39141.534.16se2,72433.334.e59e2,991A33.231003,0485.730.4811e3,016-3.227.421202,945-7.124.54

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 Multiole Choice: • Between o and 1,524 • Between 2391 and 3,043 • Between O and 2,991 Between 3,016 and 2,945 MP- (4Q/ AK) AP=(Q/K) L K Marginal Product of Capital Average Product of Capital Labor Capital Output 1e 57 5.7 5.70 20 324 26.7 16.20 657 33.3 40 1,072 41.5 26.80 se 1,524 45.2 30.48 6e 1,976 45.2 32.93 70 2,391 41.5 34.16 se 2,724 33.3 34.05 9e 2,991 33.23 100 3,048 5.7 30.48 11e 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 Multiole Choice: • Between o and 1,524 • Between 2391 and 3,043 • Between O and 2,991 Between 3,016 and 2,945 MP- (4Q/ AK) AP=(Q/K) L K Marginal Product of Capital Average Product of Capital Labor Capital Output 1e 57 5.7 5.70 20 324 26.7 16.20 657 33.3 40 1,072 41.5 26.80 se 1,524 45.2 30.48 6e 1,976 45.2 32.93 70 2,391 41.5 34.16 se 2,724 33.3 34.05 9e 2,991 33.23 100 3,048 5.7 30.48 11e 3,e16 -3.2 27.42 120 2,945 -7.1 24.54

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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