For the Production Function Q(K,L) = 3K + 2L, the Marginal

question 101

Multiple Choice

For the production function Q(K,L) = 3K + 2L, the marginal rate of technical substitution MRTS_LK is:

• A) 2/3.
• B) 3/2.
• C) 2L/3K.
• D) 3K/2L.

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Definitions:

Group Polarization

Group polarization occurs when discussions within a group lead to an accentuation of the group's initial inclination, often resulting in more extreme positions.

Social Facilitation

The tendency for people to perform differently, usually better, when in the presence of others than when alone.

Social Loafing

Social Loafing is the phenomenon where individuals exert less effort to achieve a goal when they work in a group than when they work alone.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms or expectations.