Where q is the production and v is the number of employees, Ask an Expert

Economics

Suppose the production function of the company is:

Q = 7V - 0.5V2

Where 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.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M951224

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