Let a firm's production function Q (L)=12L^2-1/20L^3 (i.e. output as TL or the amount of production depends on the workforce, L, as Q is the number of people with a single production input). This function let be the foreground 0 ≤ L ≤ 200 for. Accordingly, A) What is the number of labour force (L*) that will make output (Q) the highest? B) what is the number of workers (L**) who will make the maximum amount of output per employee(i.e. Q (L)/L)? c) in both cases the output of the L* and L** values you find and the output per employee at the most how can you be sure it's high? Show me.
Let a firm's production function Q (L)=12L^2-1/20L^3 (i.e. output as TL or the amount of production depends on the workforce, L, as Q is the number of people with a single production input). This function let be the foreground 0 ≤ L ≤ 200 for. Accordingly, A) What is the number of labour force (L*) that will make output (Q) the highest? B) what is the number of workers (L**) who will make the maximum amount of output per employee(i.e. Q (L)/L)? c) in both cases the output of the L* and L** values you find and the output per employee at the most how can you be sure it's high? Show me.
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.8P
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Let a firm's production function Q (L)=12L^2-1/20L^3 (i.e. output as TL or
the amount of production depends on the workforce, L, as Q is the number of people with a single production input). This function
let be the foreground 0 ≤ L ≤ 200 for. Accordingly,
A) What is the number of labour force (L*) that will make output (Q) the highest?
B) what is the number of workers (L**) who will make the maximum amount of output per employee(i.e. Q (L)/L)?
c) in both cases the output of the L* and L** values you find and the output per employee at the most
how can you be sure it's high? Show me.
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