13. A firm's only variable factor is labour and it produces a single product, X. It also has fixed costs. The short-run production function is; X-0.1L+ 6L+ 12L. Where X is the output in tons, and L is the number of persons employed. a. How many persons are employed if the average physical product of labour is maximized? b. How many persons are employed if the marginal physical product of labour is maximized?

13. A firm's only variable factor is labour and it produces a single product, X. It also has fixed costs. The short-run production function is; X-0.1L+ 6L+ 12L. Where X is the output in tons, and L is the number of persons employed. a. How many persons are employed if the average physical product of labour is maximized? b. How many persons are employed if the marginal physical product of labour is maximized?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 6P

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