Answered: 2. Given the productivity function Q =…

2. Given the productivity function Q = 36L2 – 3L3. a) Find the level of laborers that maximizes the productivity. b) Find the level of L for which the law of diminishing returns starts to appear.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

2.
Given the productivity function Q = 36L² – 3L³.
a)
Find the level of laborers that maximizes the
productivity.
b) Find the level of L for which the law of diminishing
returns starts to appear.

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