Suppose a Firm with a Production Function Q = KL

question 149

Multiple Choice

Suppose a firm with a production function Q = KL (where MP_L = K and MP_K = L) is producing 125 units of output by using 5 workers and 25 units of capital. The wage rate (W) per worker is $10 and the rental per unit of capital (R) is $2. If it decreases output to 45 units, long-run average total cost _____ at 125 units of output to _____ at 45 units of output.

• A) rises from $1.80; $2
• B) rises from $0.80; $1.33
• C) falls from $0.80; $0.60
• D) falls from $1.80; $1.15

Discern the differences between mentoring and coaching, and understand the concept of e-mentoring.

Recognize potential problems associated with on-the-job training and how to address them.

Understand how apprenticeships differ from traditional on-the-job training methods.

Describe the process, objectives, and core elements of coaching.

---

Definitions:

Distinct Torts

Separate and individual wrongful acts that cause harm or loss, which can result in legal liability.

Defamation

A false statement communicated to a third party that damages the reputation of the subject of the statement, which can be actionable in a civil court.

Unreasonable Public Disclosure

The act of making public private information about an individual in a way that a reasonable person would find objectionable.

Private Facts

Information about a person that is not public knowledge and that the individual has chosen to keep private; disclosure of such information may lead to legal consequences.