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Suppose the production function of the company is

Q = 7V - 0.5V2

Q is the production and V is the number of employees working 8 hours a day

a. Develop a production plan from 1 to 10 V
b. find out the average and marginal products
c. Weekly hours worked are 40 and the product price is $ 5.00
d. Identify the three stages.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M947926

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