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1. (2 Points) Suppose a firm has 10 workers, with a MPL of 50 and an APL of 75. If they hire an 11th
1. (2 Points) Suppose a firm has 10 workers, with a MPL of 50 and an APL of 75. If they hire an 11th worker (holding capital fixed), will the APL increase or decrease? 2. For this question, use the following short-run production function: Q = 10. L0.5 (a) (2 Points) What is the marginal product of labor (MPL) as a function of labor (L)? (b) (2 Points) What is the average product of labor (APL) as a function of labor (L)? (c) (5 Points) Graph the short-run production function, labeling 4 different points. Q L
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