Q2) Consider the following production function                                                                             TPL = 12L2 – 0.8L3 Determine the marginal product function(MPL) Determine the average product function (APL) Find the value of L that maximizes TPL

Q: Consider the following production function      TPL = 12L2 – 0.8L3   Determine the marginal…

A: Answer - "Thank you submitting the question .But, we are authorized to solve 3 sub parts only.For…

Q: Consider production function f(L, K) = 10VLK and input prices w :10,r = 90.

A:

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Q: production function                                                                    05   TPL =…

A: To find out MPL function , take first order derivative of TPLfunction .⇒To find out MPL function ,…

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Q: (a) Suppose we have the following production function: Q = K²/³12/3. Does the technology have…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Consider the following production function…

A: MPL or the marginal product of labor can be calculated through the differentiation of the total…

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A: Q = 8LK - L2 -K2  MPk= ∆Q / ∆K = 8L - 2K  MPl= ∆Q / ∆L = 8K - 2L

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A: The optimal quantity of labor and capital would be when MPL / MPK = W / R

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A: Answer to the question is as follows ;

Q: F(L, K) = LK^3 and F(L,K) = L+3K for each of these production functions: a) draw the corresponding…

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