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

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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