Assignment Help - homework help

For which values of a lk a and b is the average product of


Consider a firm whose production function is f(L,K)=ALaKb. For which values of A, L,K, a, and b is the Average Product of Labor for this company equal to the Marginal Product of Labor?

a) a=1 and any values of b, L, and K.

b) a+b=1, b>0, and any values of L and K.

c) a+b>1, a<1, and any values of b, L, and K.

d) a+b<1, a>0, b>0, and any values of L and K.

e) a=1/2, b=1/2, L=1, and K=3

Solution Preview :

Prepared by a verified Expert
Business Economics: For which values of a lk a and b is the average product of
Reference No:- TGS02487376

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)