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Raul112
Oct 17, 2011, 12:25 PM
Suppose the production function is Q = 20(K
0.5
L
0.5
) and the value of capital is
100. Calculate the total product for the following values of labour input: 1, 5, 10,
20, 40, 50, 80, 100, 150, 200. Calculate the average product at each of these
Levels of output. How does marginal product vary over this range of output?