Question: A company in the electronics sector shows a production function given by: q=L3+40L2+150L Where L is the number of man-hours of work. a) Given the

A company in the electronics sector shows a

A company in the electronics sector shows a production function given by: q=L3+40L2+150L Where L is the number of man-hours of work. a) Given the production function, indicate whether the function is short-run or long-run. explain. b) For what value of the productive factor of labor does the law of diminishing returns take effect? c) Determine the value of the technical production optimum (q) for the given production function. What does this value of L imply? d) Repeat for the technical maximum of production (q). What does this new value of L imply

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