Question

Use Andrew's Tires production function Q=24K^.25L^.5 to answer the questions. These are referring to the short term dynamics. In this regard, the capital is input (K) is set at 16 units. Show all work, please.

1. which of the following represents the short-run production function?

Q=12K^.25L^.5

Q=192K^.25L^.5

Q=48L^.5  Answer but needs work, please.

Q=24L^.5

2. Calculate the marginal product of labor for andrew tires when it moves from 2 to 3 labor units

A. 14.91

B. 9.94

C. 8.49

D. -9.94

Answer 1