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ou are given the production function Q = 12L, where Q = units of output per working day and L = number of workers. a)
ou are given the production function Q = 12L, where Q = units of output per working day and L = number of workers.
a) Derive the equations for the MPL and APL
b) Graphically illustrate the production function and the corresponding MPL and APL functions
c) Suppose that 5 units of fixed input K are presently being applied in the production process, determine the average product of capital (APK) when 10 units of labour are combined with 5 units of capital (K)
d) How would you describe the properties of this production function
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