Question
You have this short run production function, which you saw many times in the videos, where labor is your only variable input. Q = -.06*L
You have this short run production function, which you saw many times in the videos, where labor is your only variable input.
Q = -.06*L3+ 1.4*L2
What is the average product of labor when you hire 10 workers?
a. APlabor=12
b. APLabor =14
c. APLabor = 10
d. APlabor=8
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Inflation, Unemployment And Capital Malformations
Authors: Bernard Schmitt, Xavier Bradley, Alvaro Cencini
1st Edition
0429767064, 9780429767067
