Question: enter values on table to the right? HW Score: 55%, 11 0 Concept Question 2.3 i Question Help In the short-run, we assume that capital

enter values on table to the right?

enter values on table to the right? HW Score: 55%, 11 0

HW Score: 55%, 11 0 Concept Question 2.3 i Question Help In the short-run, we assume that capital is a fixed input and labor is a variable input, so the firm can increase output only by increasing the amount of labor it uses. In the short-run, the firm's production function is q = f(L, K), Production where q is output, L is workers, and K is the fixed number of units of capital. Labor Output or Marginal Average Product Product Product Given a specific equation for production: q = 8LK+ 512 - ( 4) 13 ONto 249 249 1,019 261 255 1,548 265 or, when K = 30, 2,069 261 259 2567 249 257 9 = (8L x30 ) + 512 - 14)13 3,024 229 Calculate the Average Product = and enter the values in the table to the right. (Round your answers to the nearest integer.)

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