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September 3, 2014

Homework Help: economics

Posted by Soanz on Sunday, March 13, 2011 at 8:38pm.

show working production function: q = 6l – 0.5l2 where q = number of car washes per hour and l = number of workers. a) generate a schedule showing total product, average product and marginal product. (5 marks) b) the price of a basic car wash is $50. how many workers should he hire if each worker is paid $60/hour? (3 marks) c) he is considering hiring students on a part–time basis for $40/hour, do you think he should do so? explain. (2 marks)

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