Question

Calculate efficiency using marginal labour and capital

Answer 1

Explanation:

The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest economic sectors by revenue.

Answer 2

Explanation:

For a given amount of labor and capital, the ratio Q K is the average amount of production for one unit of capital. On the other hand the change in the production when the labor is fixed and the capital is changed from K to K + ∆K is ∆Q = f(L, K + ∆K) − f(L, K)..