Question
Imagine your short run production function is q = -L 3 + 2L 2 + 5L. a) what is the L that maximizes the average
Imagine your short run production function is q = -L3+ 2L2+ 5L.
a) what is the L that maximizes the average product?
b)what is the L that makes average product equal to marginal product?
c)what is the level of production when L = 0.3?
d)what is the average product when L = 1.2?
e)what is the marginal product when L = 0.8?
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Dynamic Business Law The Essentials
Authors: Nancy Kubasek
1st Edition
0073377686, 9780073377681
