Sam produces widgets according to the production function F(L)= 100L(1/2).
i)What is Sam's average productivity of labour?
ii)What is Sam's marginal productivity of labour?
iii)Graph APL and MPL on a diagram. Show that MPL is lower than APL for all values of L.
Correct Answer:
Verified
ii)MPL = 50L(- 1/2)
iii)...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q82: Suppose a firm's short run total costs
Q83: Suppose that the average product of
Q84: You have just been hired as the
Q85: Some commentators have suggested that the devastating
Q86: Suppose the production function for widgets is
Q88: The marginal product of labour is:
A)the amount
Q89: A firm should allocate its workforce
Q90: Suppose the production function is F(L,K)= 3L
Q91: A firm faces a cost function of
Q92: A firm produced widgets in two plants.
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents