Principles of Microeconomics, California Edition
2nd Edition
ISBN: 9780393622102
Author: Dirk Mateer, Lee Coppock
Publisher: NORTON
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Chapter 10, Problem 3SP
To determine
Identify the profit maximizing output of
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The production function of a firm is described by the following equation Q=10,000L-3L2 where Lstands for the units of labour.a) Draw a graph for this equation. Use the quantity produced in the y-axis, and the units of labour inthe x-axis. b) What is the maximum production level? c) How many units of labour are needed at that point?
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