Question
1) Assume that the daily production function of a firm with respect to its workers is as follows: Q(L) = -0.1L^3 + 7L^2 + 1,250L
1) Assume that the daily production function of a firm with respect to its workers is as follows:
Q(L) = -0.1L^3 + 7L^2 + 1,250L
Based on this information, calculate the following:
What is the average output of the employees?
What is the marginal production of the employees?
How many employees are needed for the firm to start Phase 2 production?
What is the firm's output when it starts Phase 2 production? Graph
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
