Thursday

August 28, 2014

August 28, 2014

Posted by **Vincy** on Sunday, February 18, 2007 at 7:47pm.

Q = KL - 0.8K^2 - 0.2L^2

where Q represents the quantity of widgets produced, K represents the annual capital input and L represents annual labor input.

(a) For K = 10, what is the average productivity of labor equal to?

-do i substitute k=10 into Q, and then what do i do to find the average productivity of labor?

(b) At what level of labor input does this average productivity reach a maximum? How many widgets are produced at this point?

(c) Again assuming that K = 10, what is the marginal product of labor equal to?

**Related Questions**

econmics - Suppose the price of widgets rises from $7 to $9 and consumption of ...

economics - Suppose the price of widgets falls from $7 to $5 and consumption of ...

Econ - The demand for widgets (QX) is given by the following equation: QX = 425-...

statistics - Three percent of the widgets produced by machine 1121 are defective...

Calculus - A company manufactures widgets. The daily marginal cost to produce x ...

Economics Help pls - Suppose you are given the following production function: , ...

Math - The revenue R from selling x number of phone widgets is given by , and ...

Intro to Probability - Widgets are produced at a certain factory by each of ...

microeconomics - 1. Suppose that an increase in the price of carrots from $1.20 ...

Economics - Suppose that Neptune Music has the copyright to the latest CD of the...