If a production function is given by theequation TP=Q = 8L + 16L^2 -24L^3.Determine the Point ofdiminishing marginal returns. *O L=24/108O MP= 8+32L-72L^2O L=16/72O L=32/144

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If a production function is given by the equation TP=Q = 8L + 16L^2 - %3D 24L^3.Determine the Point of diminishing marginal returns. * O L=24/108 O MP= 8+32L-72L^2 O L=16/72 O L=32/144

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Chapter1: Making Economics Decisions

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Question

If a production function is given by the
equation TP=Q = 8L + 16L^2 -
24L^3.Determine the Point of
diminishing marginal returns. *
O L=24/108
O MP= 8+32L-72L^2
O L=16/72
O L=32/144

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