If the production function is q = f(L, K) = 3L + 2K, and capital is fixed

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If the production function is q = f(L, K) = 3L + 2K, and capital is fixed at K̅ = 50, what is the short-run production function? What is the marginal product of labor?

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Microeconomics

ISBN: 978-0134519531

8th edition

Authors: Jeffrey M. Perloff

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Question Posted: Nov 12, 2018 07:01 AM

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If the production function is q = f(L, K) = 3L + 2K, and capital is fixed

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Obtain the shortrun production function by setting ...View the full answer

Microeconomics

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