Given the Production Function Q = 4L + K, What

question 82

Multiple Choice

Given the production function q = 4L + K, what is formula for the marginal product of labor?

• A)4
• B)4 + K
• C)4K
• D)Cannot be determined with the information given.

---

Definitions:

Customer Receives

The process by which a customer gets the product or service they have purchased.

Price Pays

The concept that the value or quality of a product or service is reflected in its price, implying that higher prices often indicate better quality.

Marketing-Oriented Strategy

A business approach that focuses on meeting the needs and wants of consumers through product development, promotion, and distribution.

Long-Term Profits

Earnings that a company expects to generate over an extended period, emphasizing sustainability and continuous growth.