The production function for Our Production is Q = 25L – 0.05L2
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2. The production function for Our Production is Q = 25L – 0.05L2; where Q is output and Lman–hours.
a) What level of man–hours will maximize total output? (5 marks)
b) Calculate the marginal product for the following levels of man–hours: 50, 100, 150; 200; 250 and 300. Comment on the results. (5 marks)
11 years ago
The production function for Our Production is Q = 25L – 0.05L2
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