Suppose the production function is given by Q = 3K + 4L.What is the average product of capital when 5 units of capital and 10 units of labor are employed?
A) 3
B) 4
C) 11
D) 45

Question

Quizplus · Accepted Answer

The average product of capital (APK) is calculated by dividing the total output (Q) by the number of units of capital (K). Here, Q = 3K + 4L = 3(5) + 4(10) = 15 + 40 = 55. APK = Q/K = 55/5 = 11.

Suppose the Production Function Is Given by Q = 3K