A firm estimates its cubic production function of the following form:
and obtains the following results:
‪
-At _______ units of labor usage, marginal product of labor begins to diminish.
When the wage rate is $300, answer the following questions (remembering the relations AP = Q/L; AVC = w/AP; and SMC = w/MP):

Question

A firm estimates its cubic production function of the following form:
  and obtains the following results:
‪ 
-At _______ units of labor usage, marginal product of labor begins to diminish.
When the wage rate is $300, answer the following questions (remembering the relations AP = Q/L; AVC = w/AP; and SMC = w/MP):

Quizplus · Accepted Answer

The Answer of A firm estimates its cubic production function of the following form:
  and obtains the following results:
‪ 
-At _______ units of labor usage, marginal product of labor begins to diminish.
When the wage rate is $300, answer the following questions (remembering the relations AP = Q/L; AVC = w/AP; and SMC = w/MP):

A Firm Estimates Its Cubic Production Function of the Following