Suppose the Production Function Is Given by Q = 4K

question 143

Multiple Choice

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

• A) 3
• B) 4
• C) 11
• D) 45

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Definitions:

Personalize The Relationship

A marketing and customer service strategy focusing on tailoring interactions and communications to meet the individual needs and preferences of customers.

Trial Close

A sales technique used to gauge a prospect's readiness to buy by asking hypothetical closing questions before the actual close.

Standing-Room Close

A sales technique designed to create a sense of urgency among potential buyers, suggesting that the opportunity or product will soon be unavailable, similar to an event that has only standing room available.

Countersuggestion

A suggestion that evokes an opposite response from the prospect.