A firm's short-run production is given by Q = 30L^2 - 0.5L^3 where L denotes the number of workers. Find the size of the workforce that maximizes the average product of labour. L=27 L=28 L=30 L=29
Added by Stephanie A.
Close
Step 1
\[ Q = 30L^2 - 0.5L^3 \] Show more…
Show all steps
Your feedback will help us improve your experience
Eduard Sanchez and 88 other Calculus 3 educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
A firm's production function is Q(L) = 12L^2 - 1/20 L^3, where L denotes the number of workers, with L ∈ [0, 200]. (a) What size of the work force maximizes output Q(L)? (b) What size of the work force maximizes output per worker, Q(L)/L? Letting L* denote such size, note that Q'(L*) = Q(L*)/L*. Is this a coincidence?
Madhur L.
A firm's short-run production function is given by Q = 12L^2 - 1/2L^3, where L denotes the number of workers. a) Find the size of the workforce that maximizes output and hence sketch the graph of this production function. b) Find the size of the workforce that maximizes the average product of labor, APL. Calculate MP and AP at this value of L. What do you observe?
Adi S.
Let L represent the number of workers hired by a firm, and let Q represent that firm's quantity of output. Assume two points on the firm's production function are (L=6, Q=147) and (L=7, Q=184). The marginal product of the seventh worker is
Andrew D.
Recommended Textbooks
Calculus: Early Transcendentals
Thomas Calculus
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD