A firm's production function is Q = 6L² - 0.2L³ Where L denotes the size of the workforce. Find the value of MP, in the case when 1) L = 1 2) L = 5 3) L = 22 4) L = 45

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter7: Production Economics
Section: Chapter Questions
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A firm's production function is Q = 6L² - 0.21³
Where L denotes the size of the workforce. Find the value of MP, in the case when
1) L = 1
2) L = 5
3) L = 22
4) L = 45
Transcribed Image Text:A firm's production function is Q = 6L² - 0.21³ Where L denotes the size of the workforce. Find the value of MP, in the case when 1) L = 1 2) L = 5 3) L = 22 4) L = 45
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