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Answer to Question #44261 in Microeconomics for Najla
Question #44261
Consider the following short-run production function (where L = variable input, Q = output):
Q = 6L3 – 0.4L3
a. Determine the marginal product function (MPL).
b. Determine the average product function (APL).
c. Find the value of L that maximises Q.
d. Find the value of L at which the marginal product function takes on its maximum value.
e. Find the value of L at which the average product function takes on its maximum value.
Q = 6L3 – 0.4L3
a. Determine the marginal product function (MPL).
b. Determine the average product function (APL).
c. Find the value of L that maximises Q.
d. Find the value of L at which the marginal product function takes on its maximum value.
e. Find the value of L at which the average product function takes on its maximum value.
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