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Quiz20_answers.docx - Econ 301, F16, Artz Name: _ Quiz 20...

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Econ 301, F16, ArtzName: __________________Quiz 20Team: _________________November 2, 2016Deana’s Donut Shoppe has the production functionq=5KL+5K2L25L3.Assume we arein the short run so K is fixed at K=2.1.What is Deana’sshort runproduction function?3
2.What is the equation for the marginal product of labor for Deana’s production function inthe short run?
3.What is the marginal product of labor if Deana currently employs 1 worker (L=1)?Explain what this number tells you.
4.What is the equation for average product of labor for Deana’s production function in theshort run?
5.What is the average product of labor if Deana currently employs 1 worker (L=1)?Explain what this number tells you.
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Term
Fall
Professor
CORINNELANGINIER
Tags
Economics, AP, marginal product of labor, Deana s Donut Shoppe

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