Answered: Suppose a firm's production function is…

Suppose a firm's production function is Q=200L + 5L²-0.08L³. Which of the following is the Average Production of Labor (APL)? O a. 200+10L-0.24L²2 Ob. 10L-0.24L² Oc. 5L-0.08L2 Od. 200+5L-0.08L²

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A: Answer to the question is as follows:

Question

Suppose a firm's production function is Q=200L +5L2-0.08L³. Which of the following is the Average
Production of Labor (APL)?
Oa. 200+10L-0.24L²
Ob. 10L-0.24L²
Oc. 5L-0.08L²
Od. 200+5L-0.08L²

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