Suppose a firm faces the following average and marginal products of labor APL 50 2L 0 05L 2 MPL 50 4L 0 15L 2 At what value of labor does Stage III of production begin

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Posted on Jun 21, 2024

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 III of production begin?

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