Suppose a manufacturing firm currently employs 100 workers and the wage rate is $20 per hour. The firm's production function is given by Q = 10L^(1/2), where Q represents output and L represents the number of workers. Calculate the firm's current MPL

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Q: Lesson 7- Production Question 6

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A:

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Q: The equation below is a production function,   Q = (200)L + (100)K – (0.2)L2 – (0.1)K2     , where…

A: Q = (200)L + (100)K – (0.2)L2 – (0.1)K2

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