The production function for good X in the table below exhibits increasing marginal returns to capital overwhat outout range?Production Function for Good XChoose Multiple Choice:Between o and 1,524Between 2391 and 3,048Between o and 2,991• Between 3,016 and 2,945L*MPx= (AQ/AK)AP=(Q/K)Marginal Product ofAverage Product ofLaborCapitalOutputCapitalCapital10575.75.702032426.716.203065733.3401,07241.526.80501,52445.230.48601,97645.232.93702,39141.534.162,72433.334.859e2,991A33.2310e3,0485.730.4811e3,016-3.227.421202,945-7.124.54

The production function for good X in the table below exhibits increasing marginal returns to capital over what outout range? Production Function for Good X Choose Multiple Choice: Between o and 1,524 • Between 2,391 and 3,048 • Between O and 2,991 Between 3,016 and 2,945 L* MP= (AQ/AK) AP=(Q/K) Marginal Product of Capital Average Product of Capital Labor Capital Output 10 57 5.7 5.70 20 324 26.7 16.20 30 657 33.3 40 1,072 41.5 26.80 50 1,524 45.2 30.48 60 1,976 45.2 32.93 9. 70 2,391 41.5 34.16 2,724 33.3 34.05 9e 2,991 A 33.23 1e0 3,848 5.7 30.48 110 3,016 -3.2 27.42 120 2,945 -7.1 24.54

The production function for good X in the table below exhibits increasing marginal returns to capital over what outout range? Production Function for Good X Choose Multiple Choice: Between o and 1,524 • Between 2,391 and 3,048 • Between O and 2,991 Between 3,016 and 2,945 L* MP= (AQ/AK) AP=(Q/K) Marginal Product of Capital Average Product of Capital Labor Capital Output 10 57 5.7 5.70 20 324 26.7 16.20 30 657 33.3 40 1,072 41.5 26.80 50 1,524 45.2 30.48 60 1,976 45.2 32.93 9. 70 2,391 41.5 34.16 2,724 33.3 34.05 9e 2,991 A 33.23 1e0 3,848 5.7 30.48 110 3,016 -3.2 27.42 120 2,945 -7.1 24.54

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 7.5IP

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