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
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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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
- Find the value of L that maximizes APL
- Find the value of L that maximizes MPL
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