Consider the following production function  TPL = 12L2 – 0.8L3   Determine the marginal product function(MPL) Determine the average product function (APL) Find the value of L that maximizes TPL

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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Chapter7: Production Economics
Section: Chapter Questions
Problem 5E
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Consider the following production function 

TPL = 12L2 – 0.8L3

 

  1. Determine the marginal product function(MPL)
  2. Determine the average product function (APL)
  3. Find the value of L that maximizes TPL
  4. Find the value of L that maximizes APL
  5. Find the value of L that maximizes MPL

          

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