Suppose a Firm's Short-Run Production Function Is Given by Q

question 61

Multiple Choice

Suppose a firm's short-run production function is given by Q = 16L^0.8. What is the marginal product of the fourth worker?

• A) 36
• B) 10
• C) 49
• D) 1.85

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Definitions:

Workflow

The sequence of processes through which a piece of work passes from initiation to completion in a business or work environment.

Working Conditions

The environment, including hours, physical aspects, and any hazards, in which employees perform their jobs.

SWOT Analysis

A strategic planning tool used to identify and evaluate the Strengths, Weaknesses, Opportunities, and Threats related to a project, organization, or business venture.

Management Team

A group of individuals who work together in planning, controlling, and leading an organization, ensuring it meets its goals and objectives.