Refer to the Following:
a Firm Estimates Its Long-Run Production $$Q = - 0.0075 K ^ { - 3 } L ^ { 3 } + 12 K ^ { 2 } L ^ { 2 }$$

question 39

Multiple Choice

Refer to the following:
A firm estimates its long-run production function to be

$$Q = - 0.0075 K ^ { - 3 } L ^ { 3 } + 12 K ^ { 2 } L ^ { 2 }$$
Suppose the firm employs 12 units of capital.
-At ________ units of labor, average product of labor begins to diminish.

• A) 32.21
• B) 44.44
• C) 66.67
• D) 76.66
• E) 82.27

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Definitions:

Substantial

Of considerable importance, size, or worth; significant.

Performance

The action or process of carrying out or fulfilling a task, agreement, or expectation.

Partial

Incomplete or not whole; often refers to payments, information, or actions that are not fully completed.

Express

Express refers to a mode of communication or transportation that is fast and direct.