Note:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. The production function for good X in the table below exhibits increasing marginal returns to capital over what outputrange?Production Function for Good XL*Labor9999999999999KCapital102030405060708090100110120Output0573246571,0721,5241,9762,3912,7242,9913,0483,0162,945MPK=(AQ/AK)Marginal Product ofCapital5.726.733.341.545.245.241.533.3A5.7-3.2-7.1APK=(Q/K)Average Product ofCapital5.7016.20B26.8030.4832.9334.1634.0533.2330.4827.4224.54

The short-run(SR) production function describes the correlation between the quantity of inputs such…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate.

The production function for good X in the table below exhibits increasing marginal returns to capital over what output
range?
Production Function for Good X
L*
Labor
9
9
9
9
9
9
9
9
9
9
9
9
9
K
Capital
10
20
30
40
50
60
70
80
90
100
110
120
Output
0
57
324
657
1,072
1,524
1,976
2,391
2,724
2,991
3,048
3,016
2,945
MPK=(AQ/AK)
Marginal Product of
Capital
5.7
26.7
33.3
41.5
45.2
45.2
41.5
33.3
A
5.7
-3.2
-7.1
APK=(Q/K)
Average Product of
Capital
5.70
16.20
B
26.80
30.48
32.93
34.16
34.05
33.23
30.48
27.42
24.54

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