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Consider the following: wagner tool produces output according to q = 2k1/2 L1/2, where K is the amt of capital used and L is the amt of labor employed. wagner is constrained in the short run to use 16 units of capital. labor cost $8 per unit, capital cost $2 per unit. at q output = 48, and the associated use of labor, what is the avg and marginal product of labor respectively?

a. 1.33, 0.66

b. .66, 1.33

c. 3, .25

d. 1, 1

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91401987

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