Answer to Question #325682 in Microeconomics for Axis

Question

Please provide all answers. Thank you.

A firm has the following short-run production function. 𝑸 = 𝟑𝟎𝑳 𝟐 − 𝟎. 𝟓𝑳 𝟑 (15 points).

a. Make a table with two columns: Production and Labour.

b. Add a third column to the table with the marginal product of labor.

c. Graph the values that you estimated for the production function and the marginal product of labor.

Answer 1

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