Output for a Simple Production Process Is Given by Q

question 48

Multiple Choice

Output for a simple production process is given by Q = KL, where K denotes capital and L denotes labor. The price of labor is $10 per unit and the price of capital is $2 per unit. Suppose at the current level of production the firm is minimizing costs and the marginal product of labor is 10. Given this you know that the marginal product of capital must be

• A)5.
• B)2.
• C)10.
• D)It is impossible to say with the information given

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