Consider the following production function      TPL = 12L2 – 0.8L3   Determine the marginal product function(MPL) Determine the average product function (APL) Find the value of L that maximizes TPL Find the value of L that maximizes APL Find the value of L that maximizes MPL

Q: Consider the following production function                                                     TPL…

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A: The optimal quantity of labor and capital would be when MPL / MPK = W / R