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Refer to the Following:
a Short-Run Production Function Was Estimated Q=0.002L3+0.16L2Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }

Question 16

Multiple Choice

Refer to the following:
A short-run production function was estimated as

Q=0.002L3+0.16L2Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }
-At 60 units of labor, what is average product?


A) 9.4
B) 8.6
C) 3.7
D) 2.4
E) 6.4

Correct Answer:

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