Consider the following short-run production function (where L = variable input, Q = output): Q = 6L 3− 0.4L 3 Determine the marginal product function (MP LP ). Determine the average product function (APLP ). Find the value of L that maximizes Q.

Q: Consider the following production function                                                     TPL…

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Q: Consider the following short-run production function (where L = variable input, Q = output):Q = 6L2…

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Q: production function                                                                    05   TPL =…

A: To find out MPL function , take first order derivative of TPLfunction .⇒To find out MPL function ,…

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Q: Discuss the main feature behind the long run average cost curve in terms of usage of input.

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A:

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A: Answer in step 2.