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QUESTION
Q = 3.0 L^2 - 0.08 L^3 . (a) Find the size of the workforce which maximizes output and sketch a graph of this production function.
Hi please help. Q = 3.0 L^2 - 0.08 L^3. (a) Find the size of the workforce which maximizes output and sketch a graph of this production function. (b) Find the size of the workforce which maximizes the average product of labor. (c) Calculate marginal product of labor (MPL) and average product of labor (APL) at this value of L in (b) above.
