Consider the following production function: Assume capital is fixed at K = 25. At what level of employment does the marginal product of labor equal zero? The marginal product of labor equals zero when

Consider the following production function: Assume capital is fixed at K = 25. At what level of employment does the marginal product of labor equal zero? The marginal product of labor equals zero when

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 1.5CE

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Question

Consider the following production function:
Assume capital is fixed at K = 25.
At what level of employment does the marginal product of labor equal zero?
The marginal product of labor equals zero when
L=
q=48LK+20L2
3
(3) ₁³.
(Enter a numeric response using an integer.)

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