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A Short-Run Production Function Was Estimated As Q=0.002L3+0.16L2Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }

Question 22

Multiple Choice

A short-run production function was estimated as Q=0.002L3+0.16L2Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 } What is average product when it is at its maximum level?


A) 3.20
B) 8.75
C) 6.92
D) 6.00
E) 9.40

Correct Answer:

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