Suppose that a firm's production function is Q = F(L) = L3 - 200L2 + 10,000L. At
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Q = F(L) = L3 - 200L2 + 10,000L.
At what amount of labor input are the firm's average and marginal product of labor equal (other than at L = 0)? Confirm that the average and marginal product curves satisfy the relationship discussed in the text.
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The firms average and marginal product of labor are equal other than at L 0 at 20 units When the amo...View the full answer
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