Question
f a firm's production function isQ =100*L -L 2 ,where Q is units of output and L is daily units of labor input,then its marginal
f a firm's production function isQ =100*L -L2,where Q is units of output and L is daily units of labor input,then its marginal product of labor is MPL = 100 - 2*L.If the firm sells its output in a competitive market for $5each,what is the value of the marginal product when L =25?
A.More than $100.
B.$100 or less.
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Understanding Econometrics With Economic Applications
Authors: Dennis Halcoussis
1st Edition
0030348064, 9780030348068
