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Suppose the production function for widgets is given by: Q = KL - 0.8K2 - 0.
Suppose the production function for widgets is given by: Q = KL - 0.8K2 - 0.2L2 where Q represents the quantity of widgets produced, K represents the annual capital input and L represents annual labor input. (a) For K = 10, what is the average productivity of labor equal to? (b) At what level of labor input does this average productivity reach a maximum? How many widgets are produced at this point? (c) Again assuming that K = 10, what is the marginal product of labor equal to? (d) Graph the APL and MPL curves.