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Consider the following short-run production function (where L=variable input, Q= Output):

Q=6L^2-0.4L^3

A.) determine the marginal product function (MPL(L in subscript)
B.) determine the average product function (APL(L in subscript)
C.) Find the value of L that maximizes Q
d.) Find the value of L 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?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M963336

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