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The short-run production function in a clothing factory is given by: Q=70L21L3 where L denotes the size of the workforce 1. Find expressions for APL
The short-run production function in a clothing factory is given by: Q=70L21L3 where L denotes the size of the workforce 1. Find expressions for APL and MPL 2. Use your answers to part 1 to find the value of L which maximizes APL. Note: round your results to 1 decimal position. The decimal symbol is "." 1. The expressions are: a. APL=70.0L+1.0L2 b. MPL=140.0L+3.0L2 2. The average product of labor is a maximum when L=35.0 The short-run production function in a clothing factory is given by: Q=70L21L3 where L denotes the size of the workforce 1. Find expressions for APL and MPL 2. Use your answers to part 1 to find the value of L which maximizes APL. Note: round your results to 1 decimal position. The decimal symbol is "." 1. The expressions are: a. APL=70.0L+1.0L2 b. MPL=140.0L+3.0L2 2. The average product of labor is a maximum when L=35.0
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