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An industry can be characterized by the following production 



1.	An industry can be characterized by the following production function:

          Q = 2.5L.60 C.40

(a)	What is the algebraic expression for the marginal productivity of labor?
(b)	What is the algebraic expression for the average productivity of labor?
(c)	How would you characterize the returns-to-scale in the industry?
2.	Emco Company has an assembly line of fixed size A. Total output is a function of the number of workers (crew size) as shown in the following schedule:

Crew Size	Total Output
(No. of Workers)	(No. of Units)
	
0	 0
1	10
2	35
3	50
4	56
5	59
6	60
7	60
8	58

Determine the following schedules:

(a)	marginal productivity of labor
(b)	average productivity of labor
(c)	elasticity of production with respect to labor



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