Question
2. A firm's short-run production function is given by Q = 300L - L4 where L denotes the number of workers. Find the size
2. A firm's short-run production function is given by Q = 300L - L4 where L denotes the number of workers. Find the size of the workforce that maximises the average product of labour and verify that at this value of L MP = APL
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
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