A firms production function is Q = 50L 0.01L 2 where L denotes the size of
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A firm’s production function is Q = 50L − 0.01L2 where L denotes the size of the workforce. Find the value of MPL in the case when
(a) L = 1
(b) L = 10
(c) L = 100
(d) L = 1000
Does the law of diminishing marginal productivity apply to this particular function?
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MPL do dz 50...View the full answer
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