What level of man-hours will maximize total output, Microeconomics

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What level of man-hours will maximize total output

The production function for Our Production is Q = 50L - 0.1L2; where Q is output and L man-hours.

a) What level of man-hours will maximize total output?

b) Calculate the marginal product for the following levels of man-hours: 50, 100, 150; 200; 250 and 300. Comment on the results.

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Microeconomics: What level of man-hours will maximize total output

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Request for Solution File

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Microeconomics: What level of man-hours will maximize total output

Reference No:- TGS064074

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Discretionary fiscal policy-expansionary fiscal policy-tax

Q : Create schedule showing total product-average product

Q : Financial records of the partnership

Q : Market conditions of perfect competition-monopolistic

Q : What level of man-hours will maximize total output

Q : How much of the net income will be distributed

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: What level of man-hours will maximize total output

Reference No:- TGS064074

Recent Questions Asked Microeconomics

Q : Discretionary fiscal policy-expansionary fiscal policy-tax

Q : Create schedule showing total product-average product

Q : Financial records of the partnership

Q : Market conditions of perfect competition-monopolistic

Q : What level of man-hours will maximize total output

Q : How much of the net income will be distributed

Q : Options for new factory configuration

Q : Are workers-machines utilized in cost-minimizing manner

Q : Price elasticity and income elasticity

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