A firms production function is Q(L) = 15Ľ - 0.1L , where output (Q) is a function of a single input labour (L). (i) Find the number of workers required to maximize total product. (ii) For what number of workers is average product maximum?
A firms production function is Q(L) = 15Ľ - 0.1L , where output (Q) is a function of a single input labour (L). (i) Find the number of workers required to maximize total product. (ii) For what number of workers is average product maximum?
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
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