Answer to Question #116934 in Microeconomics for Anshika

Question #116934
The production function at Ginko’s Copy Shop is q = 1,000 * min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. As an example, if L = 4 and K = 1, then min(L,3K) = 3, and q = 3,000. Suppose in the short run capital is fixed at 3 units.

a. The total product when 2 labour units are employed is ____________
b. The average product of labour when 3 units of labour is employed in the production process is _______
c. The average product of labour when 4 units of labour is employed in the production process is _______
d. The average product of labour when 10 units of labour is employed in the production process is _______
e. The marginal product of the 5th labour unit is_______
f. The marginal product of the 11th labour unit is _________
1
Expert's answer
2020-05-19T10:33:53-0400

a.The total product when 2 labour units are employed is 2000

b. The average product of labour when 3 units of labour is employed in the production process is 1000

c. The average product of labour when 4 units of labour is employed in the production process is 1000

d. The average product of labour when 10 units of labour is employed in the production process is 1000

e. The marginal product of the 5th labour unit is 1000

f. The marginal product of the 11th labour unit is 1000



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