4. Assume ABC Sdn. Bhd. has the short run production function written as follows:<\/p>
TP = 12L - 0.5L2 where TP = total output and L = number of workers employed.<\/p>
(a) If the output is sold at RM10 per unit and each worker is paid RM10 per hour, determine the optimal number of labour the firm should hire in order to maximise its profit.<\/p>
(b) Calculate the firm's optimal output and maximum profit.<\/p>
(c) How much output should the firm produce in order to break-even if total fixed cost is RM160 and average variable cost is RM2?<\/p>", "transcribed_text": "", "related_book": { "title": "Microeconomics An Intuitive Approach with Calculus", "isbn": "538453257, 978-0538453257", "edition": "1st edition", "authors": "Thomas Nechyba", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/643.jpg", "uri": "\/textbooks\/microeconomics-an-intuitive-approach-with-calculus-1st-edition-643", "see_more_uri": "" }, "free_related_book": { "isbn": "1518800602", "uri": "\/textbooks\/customer-loyalty-101-revised-and-updated-how-to-grow-your-circle-of-loyal-customers-and-why-the-millions-of-in-customer-service-and-phone-haven-t-worked-1st-edition-978-1518800603-159527", "name": "Customer Loyalty 101 Revised And Updated How To Grow Your Circle Of Loyal Customers And Why The Millions Of $$$ In Customer Service And Phone Haven T Worked", "edition": "1st Edition" }, "question_posted": "2024-06-13 15:00:12", "see_more_questions_link": "\/study-help\/questions\/business-general-management-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/state-hospital-is-considering-outsourcing-its-maintenance-work-the-total", "description": "State Hospital is considering outsourcing its maintenance work. 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