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 2391 and 3,048Between o and 2,991• Between 3,016 and 2,945L*MPx= (AQ/AK)AP=(Q/K)Marginal Product ofAverage Product ofLaborCapitalOutputCapitalCapital10575.75.702032426.716.203065733.3401,07241.526.80501,52445.230.48601,97645.232.93702,39141.534.162,72433.334.859e2,991A33.2310e3,0485.730.4811e3,016-3.227.421202,945-7.124.54

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 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* MP= (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 50 1,524 45.2 30.48 60 1,976 45.2 32.93 9. 70 2,391 41.5 34.16 2,724 33.3 34.05 9e 2,991 A 33.23 1e0 3,848 5.7 30.48 110 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 L* MP= (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 50 1,524 45.2 30.48 60 1,976 45.2 32.93 9. 70 2,391 41.5 34.16 2,724 33.3 34.05 9e 2,991 A 33.23 1e0 3,848 5.7 30.48 110 3,016 -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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Show illustration and explain the special case of production functions "Fixed proportions production function."
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