(Table: Capital and Labor XIV) Consider the Production Function That

question 8

Essay

(Table: Capital and Labor XIV) Consider the production function that this table shows.
a. Does this production function exhibit a constant return to scale? Explain your answer.
b. How many units of output are produced with 4 units of labor and 2 units of capital?
c. Suppose the firm is using 3 units of capital and 2 units of labor and then decides to employ a third worker. What is the marginal product of the third worker?
d. Suppose the firm is using 1 unit of labor and 1 unit of capital. What is the marginal product of capital for K = 2, K = 3, and K = 4? Does return on capital diminish?

---

Definitions:

Exercise Equipment

The range of apparatus or devices used during physical activity to enhance the strength or conditioning effects of that exercise by providing either fixed or adjustable amounts of resistance.

Return Demonstration

A teaching method where a student demonstrates a skill or procedure after instruction to confirm understanding and competence.

Cloze Test

A method used in language learning that involves filling in blanks within sentences or texts with appropriate words to test understanding or knowledge.

Patient-Centred Care

An approach to care that respects and responds to individual patient preferences, needs, and values, ensuring that patient values guide all clinical decisions.