-Based on the table above, holding labor constant at 2 units, the average productivity of three units of capital is
A) 8.
B) 12.
C) 21.
D) 24.
Correct Answer:
Verified
Q20: Technically inefficient points are:
A)points in the production
Q21: Diminishing marginal returns occur when the total
Q22: The expression given below explains:
Q23: Total product hill is:
A)A single line graph
Q24: The law of diminishing marginal returns states
Q26: When isoquants are convex to the origin,:
A)the
Q27: Suppose the production function can be
Q28: An isoquant represents:
A)all combinations of inputs that
Q29: When a production function can be
Q30: When a production function can be
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