If the Production Function Is Q = KL and Capital

question 44

Multiple Choice

If the production function is Q = KL and capital is fixed at 1 unit,then the marginal product of labor when L = 25 is:

• A) ¼.
• B) 1/10.
• C) 15.
• D) None of the answers are correct.

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Definitions:

Payment To Supplier

A financial transaction involving the transfer of funds to a supplier in exchange for goods or services.

Operating Cycle

The duration of time from the acquisition of inventory to the collection of cash from receivables, reflecting the efficiency of a business's operations.

Inventory Turnover

Inventory Turnover is a ratio that shows how many times a company's inventory is sold and replaced over a period.

Accounts Receivable Collection

The process of recovering funds that are due from customers who have purchased goods or services on credit.