Suppose a firm faces the following average and marginal products of labor APL 200 5L 0 08L 2 MPL 200 10L 0 24L 2 At what value of labor does diminishing returns of production begin

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Posted on Jun 25, 2024

Suppose a firm faces the following average and marginal products of labor: APL = 200 + 5L - 0.08L 2 MPL = 200 + 10L

Suppose a firm faces the following average and marginal products of labor:

APL = 200 + 5L - 0.08L²

MPL = 200 + 10L - 0.24L²

At what value of labor does diminishing returns of production begin?

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