Question: Consider the production function = 3/4 1/4 . Further suppose that capital is fixed at 16 units. Answer the following questions: a) Find Q when

Consider the production function = 3/4 1/4 . Further suppose that capital is fixed at 16 units. Answer the following questions:

a) Find Q when L = 16 units. What is the output (Q) when L increases to 81 units?

b) Find the average product of labor when L = 16 units. What is the average product of labor when L increases 81 units?

c) Find the marginal product of labor when L = 16 units. What is the marginal product of labor when L increases 81 units?

d) Show that doubling all the inputs doubles the output.

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