Ask Question, Ask an Expert


Ask Microeconomics Expert

Assume that the short-run production function for a specific product is represented by:

, 000L2 - 1,000L3

a) Find out the marginal product and show mathematically that the labor is subject to diminishing returns.

b) Beyond what labor practice, the marginal product becomes negative.

c) Show mathematically that whenever the average product is at maximum, marginal product is equivalent to it?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M915927

Have any Question? 

Related Questions in Microeconomics

Problem assignmentmicrosoft word - sio 20 problem

Problem Assignment Microsoft Word - SIO 20 Problem Assignment 4_2016.docx 1. Describe the life-cycle of a frontal cyclone (also called "wave cyclone" or "midlatitude cyclone"). Draw a diagram if that helps. 2. Describe t ...

Prepare 100 words summary for class discussioncreative

Prepare 100 words summary for class discussion Creative Destruction by W. Michael Cox and Richard Alm Joseph Schumpeter (1883-1950) coined the seemingly paradoxical term "creative destruction," and generations of economi ...

Assignmentafter read two articles then answer the questions

Assignment After read two articles then answer the questions below Cellini: - How does Cellini criticize Bandinelli's sculpture Hercules and Cacus (1534)? - What technical difficulties does Cellini encounter in making hi ...

Assignmentquestion 1 how is a project baseline used to

Assignment Question 1) How is a project baseline used to guide the execution of the project's work, to evaluate progress and performance, and to control the project? Also, as you continue to think about monitoring and co ...

Discussionlong-term investment and cost-benefit analysis

Discussion "Long-Term Investment and Cost-Benefit Analysis" Please respond to the following: • From the scenario for Katrina's Candies, suggest one method in which Herb could use a cost-benefit analysis to argue for or a ...

Assignment lasa the costs of productionjoseph farms inc is

Assignment: LASA: The Costs of Production Joseph Farms, Inc. is a small firm in the agricultural industry. They have asked you to help them complete the limited data they have gathered in an effort to enable effective de ...

Diagnostic assessmentsat its core a diagnostic assessment

Diagnostic Assessments "At its core, a diagnostic assessment is a detailed investigation of children's strengths and skill gaps that permits targeted intervention." (Howard, V. F., & Aiken, E., 2015, p. 282). Informal di ...

Part awe have discussed several examples of constrained

Part A: We have discussed several examples of constrained utility maximisation in lectures and in classes. For example, we have learned how to find the optimal bundle of goods consumed by an individual trying to maximise ...

Human relations amp workforce planningpharmanetixfor your

Human Relations & Workforce Planning PHARMANETIX For your final project, you need to write a 10-15 page proposal to me, the Chairman of the Board for Pharmanetix. Here are some helpful hints when writing this proposal: 1 ...

Balance of payments and foreign exchange rates

Balance of Payments and Foreign Exchange Rates Assignment This assignment examines the balance of payments and foreign exchange rates. We will define and be able to identify the balance of payments, a closed economy, an ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate