Suppose the Production Function for a Car Manufacturer Is

question 34

Multiple Choice

Suppose the production function for a car manufacturer is:
Q = 2K²L²
Where Q is the number of cars produced, K is the number of machine hours used, and L is the number of worker hours used. The function for the marginal product of capital is ____.

• A) 4K²L
• B) 4KL²
• C) 4KL
• D) KL^-1

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Definitions:

Profitability

The degree to which a business or activity yields profit or financial gain.

Organizational Structure

The system of tasks, workflows, reporting relationships, and communication channels that link together the diverse parts of an organization.

Marketing Plan

a comprehensive document outlining a company's strategy for promoting its products or services, including details on target markets, positioning, marketing mix, and budget.

Expense Forecast

Expense Forecast refers to projecting future business expenses over a specific period based on historical data and expected future activities, helping in budget planning and financial management.