A firms production function is Q(L) = 15Ľ - 0.1L , where output (Q) is a function of a single input labour (L). (i) Find the number of workers required to maximize total product. (ii) For what number of workers is average product maximum?
A firms production function is Q(L) = 15Ľ - 0.1L , where output (Q) is a function of a single input labour (L). (i) Find the number of workers required to maximize total product. (ii) For what number of workers is average product maximum?
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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Transcribed Image Text:A firms production function is Q(L) = 15L -0.1L, where output (Q) is a function of a
single input labour (L).
(i) Find the number of workers required to maximize total product.
(ii) For what number of workers is average product maximum?
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