Question
Suppose a firm faces the following average and marginal products of labor: APL = 50 + 2L - 0.05L 2 MPL = 50 + 4L
Suppose a firm faces the following average and marginal products of labor:
APL = 50 + 2L - 0.05L2
MPL = 50 + 4L - 0.15L2
At what value of labor does Stage II of production begin?
Answer:
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
8th Canadian Edition
134646355, 9780134842615 , 978-0134646350
