Question: Suppose the production function is given by Q = 4K1/2L1/2, and capital is fixed at 16. What is marginal product of labor when the firm
Suppose the production function is given by Q = 4K1/2L1/2, and capital is fixed at 16. What is marginal product of labor when the firm hires 25 units of labor?
3.2
20
1.6
0.8
None of the answers are correct.
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