Question: Suppose that the production function is q = L0.75 K0.25. a. What is the average product of labor, holding capital fixed at K? b. What

Suppose that the production function is q = L0.75 K0.25.

a. What is the average product of labor, holding capital fixed at K?

b. What is the marginal product of labor?

c. How is the marginal product of labor related to the average product of labor?


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