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Questions › UGC-NET › UGC-NET 2025 › Q18
2 marksMicroeconomics › Production and returns to scale › Production function, marginal and average productModerateabout 1 min

UGC-NET 2025 Question 18: Production and returns to scale

For a Cobb-Douglas production function with two inputs, Q=AKαLβQ = AK^{\alpha}L^{\beta}Q=AKαLβ where A>0A > 0A>0 and α,β>0\alpha, \beta > 0α,β>0, the marginal products are:

A. MPK=αKQMP_K = \frac{\alpha}{K}QMPK​=Kα​Q
B. MPK=βKQMP_K = \frac{\beta}{K}QMPK​=Kβ​Q
C. MPL=αLQMP_L = \frac{\alpha}{L}QMPL​=Lα​Q
D. MPL=βLQMP_L = \frac{\beta}{L}QMPL​=Lβ​Q

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For a Cobb-Douglas production function with two inputs, Q = AK^αL^β where A > 0 and α, β > 0, the marginal products are: A. MP_K = α/KQ B. MP_K = β/KQ C. MP_L = α/LQ D. MP_L = β/LQ (A) A and C only (B) A and D only (C) B and C only (D) B and D only

Also written as: For a Cobb-Douglas production function with two inputs, Q = AK^(alpha)L^(beta) where A > 0 and alpha, beta > 0, the marginal products are: A. MP_K = alpha/KQ B. MP_K = beta/KQ C. MP_L = alpha/LQ D. MP_L = beta/LQ

Production and returns to scale has come up 92 times in 6 exams since 2007.

What this question tests

This question is on Production function, marginal and average product, part of Production and returns to scale in Microeconomics.

How output depends on inputs, and the law of diminishing returns to a variable factor.

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