Business, 07.04.2020 22:33 mfar4087

N the short-run, a firm cannot vary its capital, Kequals4, but can vary its labor, L. It produces output q. Explain why the firm will or will not experience diminishing marginal returns to labor in the short-run if its production function is qequals10LplusK. Note that dq/dLequals10. In the short-run, the firm A. will not experience diminishing marginal returns to labor because labor's marginal product is constant. B. will not experience diminishing marginal returns to labor because labor's marginal product equals 10. C. will experience diminishing marginal returns to labor because labor's marginal product equals 10L. D. will experience diminishing marginal returns to labor because labor's marginal product equals 10. E. both a and b. Explain why the firm will or will not experience diminishing marginal returns to labor in the short-run if its production function is qequalsUpper L Superscript 1 divided by 2Upper K Superscript 1 divided by 2. Note that dq/dL equals 0.5 Upper E Superscript negative 1 divided by 2Upper K overbar Superscript 1 divided by 2. In the short-run, the firm

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N the short-run, a firm cannot vary its capital, Kequals4, but can vary its labor, L. It produces ou...

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