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QUESTION
Suppose you have the short run production function estimated to be: Y= 100 L + 50 L 2 - 3L 3 a. At what number of workers does Stage III begin? b. At...
Suppose you have the short run production function estimated to be:
Y= 100 L+ 50 L2 - 3L3
a. At what number of workers does Stage III begin?
b. At what number of workers does MPP reach its peak?
c. At what number of workers will output be maximized?
d. What level of output is the maximum?
