If the Production Function Is Q = K

question 7

Multiple Choice

If the production function is Q = K^.5L^.5 and capital is fixed at 9 units,then the marginal product of labor when L = 49 is:

• A) 3.
• B) 9/98.
• C) 3/14.
• D) None of the answers are correct.

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Definitions:

Social Needs

Basic human motivations included in Maslow's hierarchy, referring to the need for belongingness, love, and interpersonal relationships.

Maslow Hierarchy

A psychological theory proposed by Abraham Maslow that outlines a five-tier model of human needs, from basic (physiological) to higher needs (self-actualization).

Lowest Level Need

Refers to the most basic or foundational requirements in a hierarchy of needs, typically associated with physiological or survival needs.

Personal Needs

Personal needs refer to the essential requirements necessary for an individual to achieve basic satisfaction, including physical, social, and psychological needs.