A fam han the production function F(L, K)- 2 min(L, 10K). The curent input level in (L. K)- (12, 1). What is the marginal product of capital? Select one Ob. 20 OC The marginal product of capital is not defined. d. 4

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 6P
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A firm has the production function F(L, K) - 2 min(L, 10K). The current input level in (L, K) (12, 1). What is the marginal product
of capital?
Select one:
a. 2
O b. 20
OC. The marginal product of capital is not defined.
od 4
Transcribed Image Text:A firm has the production function F(L, K) - 2 min(L, 10K). The current input level in (L, K) (12, 1). What is the marginal product of capital? Select one: a. 2 O b. 20 OC. The marginal product of capital is not defined. od 4
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