Suppose the Production Function Is Given by Q = 3K

question 11

Multiple Choice

Suppose the production function is given by Q = 3K + 4L.What is the marginal product of capital when 5 units of capital and 10 units of labor are employed?

• A) 3
• B) 4
• C) 11
• D) 45

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Definitions:

Equity

The value of ownership interest in a company, represented by the amount of assets minus liabilities.

Adjusting Entries

Entries made in accounting records at the end of an accounting period to update the balances of accounts in the preparation of financial statements.

Accounting Period

A specific time period during which financial transactions are recorded and financial statements are prepared.

Current Assets

Assets expected to be converted into cash, sold, or consumed within a year or the operating cycle, whichever is longer.