Suppose that raw materials input r are fixed at 10 units., Ask an Expert

Economics

A certain production process employs two inputs - labor (L) and raw materials (R). Output (Q) is a function of such two inputs and is given by the following relationship:

Q = 6L2 R2 - .10L3 R3.

Suppose that raw materials (input R) are fixed at 10 units.

Determine the number of units of input L that maximizes the total product function.

a. 2
b. 4
c. 3
d. 1

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9307157

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