Question: ( 4 points ) Suppose the production function for a fastfood restaurant is given by Q = 1 2 K 0 . 5 L 0

(4 points) Suppose the production function for a fastfood restaurant is given by
Q =12K0.5L0.5, where Q is the number of meals served per day, K is the amount of capital
employed, and L is the number of workers employed.
a. What is the firms output if K=9 and L=64?
b. Write the equation for the firms short run production function when K=9.
c. Write the equation for the firms short run average product of labor when K=9.
d. Calculate the average product of labor when L=64 and K=9. Round to the nearest whole
number.
2.(9 points) Complete the table below. K is fixed.
Units of capital, K Units of labor, L Output, Q
Marginal
product of labor
Average
product of labor
70000
17
28
7323
46

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