suppose that a firm production function is given by Q=20L-2L^2 if the price of production Birr 20 what will be the value of marginal production function of the second worker employed?
The marginal production function can be found by taking the derivative of the production function with respect to the quantity of labor (L).
Q = 20L - 2L^2
Taking the derivative:
dQ/dL = 20 - 4L
To find the marginal production function of the second worker employed, we substitute L = 2 into the derivative.
dQ/dL = 20 - 4(2)
= 20 - 8
= 12
Therefore, the value of the marginal production function of the second worker employed is 12.
To find the marginal production function, we need to take the derivative of the production function with respect to labor (L).
The given production function is Q = 20L - 2L^2, and we need to find the marginal production function when the second worker is employed.
First, let's differentiate the production function with respect to L, keeping in mind that Birr is a unit of currency and does not affect the derivative:
dQ/dL = 20 - 4L
Now, let's substitute L with the number of workers employed, which is 2:
dQ/dL = 20 - 4(2)
= 20 - 8
= 12
Therefore, the value of the marginal production function when the second worker is employed is 12.