Always Round Tire has a production function of Q = 300 L^.75 K^.5.In the short run,if L = 250 and K = 25,what is the quantity of tires supplied? What happens to the output of tires if L jumps to 300 and then 350? What law does this illustrate?

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The Answer is When L = 250 and K = 25,then Q = 94,307.When L increases to 300,Q increases to 108,127.When L increases to 350,Q increases to 121,379.This shows the effects of diminishing marginal returns to labor as a factor of production.

Always Round Tire Has a Production Function of Q =