Quantity of variable input Total output Marginal product of variable input Average product of variable input 35 35 35 2. 60 25 30 3. 75 15 25 The production function represented in the above table exhibits diminishing marginal productivity of variable input because narginal productivity of the variable input increases as its quantity increases.

Consider the production function of the firm below. Which of the following is NOT true? The marginal product of labor at B is 70 units. The total product is increasing as inputs to production increase. The marginal product of capital at point D is 50. The marginal products of both labor and capital are always increasing.

Known function is the production of a commodityQ = 40X + 12X2 - 1.2X3a. Calculate how many units of input X in order to achieve maximum total productb. Calculate how many units of input X in order to achieve maximum marginal productc. Calculate how many units of input X in order to achieve maximum average product

Consider the followng production function: 1 2 9 = x?x where x, and x, measure the employed quantities of input #1 and input #2, respectively. (a) Solve for and graph this firm's isoquant at q isoquant. 10. Please label three points along this (b) Does this production function exhibit increasing, decreasing, or constant returns to scale? Explain. Please corroborate your answer using a set of isoquants when the quantity of both imputs gets doubled. Note: Be sure to plot x2 along the y-axis.

The marginal product of labour is diminishing when: The marginal product of labour is larger than the average product of labour. The production function is convex. The production function is concave. The second derivative of the production function is negative.

Subpart 1-3

Lesson 7- Production Question 8

Could I have help or explanation on how to find the LTC min and L* and k*