A company can manufacture a product according to the production function Q=3K1/2L1/2, and capital is fixed at 4. i) When the firm hires 16 units of labor. The average product of labor is......... ii) when the firm hires 16 units of labor, the marginal product of labor is....... iii) if the firm can sell its output at a price of $ 10 per unit and can hire labor at $ 10 per unit , it should hire?............units of labor maximize the profits.

Q: How much labor would it hire if it could sell its output at $50 per unit?

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A: Given that,  Q = 3 K0.5 L0.5K  = 4 P = $10 W = $10

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