Suppose the Production Function Is Given by Q = 3K

question 159

Multiple Choice

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

• A) 3
• B) 4
• C) 7
• D) 45

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Definitions:

Sunglasses

Eyewear designed to protect the eyes from excessive sunlight and UV rays.

Counterbalancing

A method of controlling for order effects in a repeated measures design by either including all orders of treatment presentation or randomly determining the order for each subject.

Order Effects

The impact that the sequence of presenting stimuli or conditions has on the responses of subjects in an experiment.

Latin Square

A technique to control for order effects without having all possible orders.