Answer to Question #24282 in Economics of Enterprise for mohamed

Question #24282
Consider the following short-run production function (where L = variable input, Q = output): Q = 6L3 – 0.4L3 a. Determine the marginal product function (MPL). [1 marks] b. Determine the average product function (APL). [1 marks] c. Find the value of L that maximizes Q. [1 marks] d. Find the value of L at which the marginal product function takes on its maximum value. [1 marks] e. Find the value of L at which the average product function takes on its maximum value. [1 marks
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