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bonufazy [111]
3 years ago
5

The production function for laser eye surgery is given by Q = 20K0.5L0.5, where Q is the number of laser eye surgeries performed

per day, K is the number of eye surgery machines (which is fixed at 2 in the short run), and L is the number of employees. The marginal product of labor for L = 3 is ____.
Business
1 answer:
Naddika [18.5K]3 years ago
7 0

The marginal product of labor is 10.

Data and Calculations:

Production function = Q = 20K0.5L0.5 = 20 x K x 0.5 x L x 0.5

Where:

Q = number of surgeries per day

K = number of machines

L = number of employees

Assuming that:

K = 2

L = 2

Therefore, Q1 = 20 x 2 x 0.5 x 2 x 0.5

= 20 surgeries per day

Q2 = 20 x 2 x 0.5 x 3 x 0.5

= 30 surgeries per day

Change in productivity = 10 (30 - 20)

Change in labor = 1 (3 - 2)

Marginal product of labor = change in output / change in labor

= 10 (10/1)

Thus, the marginal product of labor for the production function is 10.

Learn more: brainly.com/question/4186143

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Answer:

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at the phase 3 meeting, the project manager will outline the process to . a.) transfer the deliverables into operational state a
alexandr1967 [171]

The project manager will outline how to transfer the deliverables in operational status and formally close the project at the phase 3 meeting.  So, the correct option choice for this question would be option (b).

<h3>Write a short note on project management.</h3>

Project management may be regarded as the process of overseeing a team's activity to complete all project objectives within the established parameters. Usually, explanations of this information are included in the project documentation that is created at the beginning of the development process. Scope, budget and time are the three basic constraints. The other issue is how to best distribute the required inputs while still using them to accomplish predetermined objectives.

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