Essay
If a production function is given by the equation Q = 12X + 10X2 - X3,where Q = Output and X = Input,then calculate the equations for
a.average product
b.marginal product
c.point of diminishing average returns
d.point of diminishing marginal returns
Correct Answer:
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a.AP = Q/X,or 12 + 10X - X2 b.M...View Answer
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