Solved: At what amount of labor input are the firms average product, Econometrics

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At what amount of labor input are the firms average product

Problem

Suppose that a firm's production function is Q = F(L) = L³ - 200L² + 10,000L. Its marginal product of labor is MP_L = 3L²- 400L + 10,000. At what amount of labor input are the firm's average and marginal product of labor equal? Confirm that the average and marginal product curves satisfy the relationship discussed in the text.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Econometrics: At what amount of labor input are the firms average product

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