Question

Suppose that a firm's production function is

Q=−F(L)=−2L3+200L2+5,000L.
Q
=
−
F
(
L
)
=
−
2
L
3
+
200
L
2
+
5
,
000
L
.

Its marginal product of labor is

MPL=−6L2+400L+5,000.
M
P
L
=
−
6
L
2
+
400
L
+
5
,
000.

a. At what amount of labor input are the firm's average and marginal product of labor equal (other than at L = 0)?

Instructions: Enter your answer as a whole number.

units.

b. Confirm that the average and marginal product curves satisfy the relationship discussed in the text.

When the amount of labor input is less than the quantity identified in your answer above, the marginal product of labor is the average product of labor.

When labor is greater than the amount identified above, the marginal product of labor is the average product of labor.

Answer 1