Joe owns a coffee house and produces coffee drinks under the production function q = 5KL where q is the number of cups generated per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labor)
What is the average product of labor? A) AP = 5
B) AP = 5K
C) AP = 5L
D) AP = 5K/L
B
Economics
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