Given the following short run production function Q=12L-4L,
what will be the maximum production?
what is the range of feasible units of labor that determines second stage of production
1
Expert's answer
2014-08-22T10:17:35-0400
Q=12L-4L = 8L, This production function has no maximum point, because in is continuously rising. The range of feasible units of labor is L > 0, and it can't be determined more exactly in the second stage of production, because there is not enough information.
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