Question: Making dresses is a labor-intensive process. Indeed, the production function of a dressmaking firm is well described by the equation Q=LL2/800, where Q denotes the
Making dresses is a labor-intensive process. Indeed, the production function of a dressmaking firm is well described by the equation Q=LL2/800, where Q denotes the number of dresses per week and L is the number of labor hours per week. The firm faces the fixed selling price, P=$40. The marginal revenue product of labor is: 20(0.1L) 40(0.1L) 20(0,4L) 40(0,4L)
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