Question

Suppose the production function is given by Q(L,K) =L43K41. Assuming capital is fixed, find APL and MPL # 2. Consider the following short run production function: a) Find the value of L that maximizes output b) Find the value of L that maximizes average product 3. Given a short run cost function as T1006023123QQQC, find MC

Answer 1

Answer:

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Answer 2

Answer:

Explanation:

Suppose the production function is given by Q(L,K) = L

73

4

3

L

K

4

1

. Assuming capital is fixed,

find AP

L

and MP

L