Question
suppose that a firm production function is given by Q=20L-2L^2 if the price of production Birr 20 what will be the value of marginal production function of the second worker employed?
Answers
GPT 3.5
The marginal production function can be found by taking the derivative of the production function with respect to the quantity of labor (L).
Q = 20L - 2L^2
Taking the derivative:
dQ/dL = 20 - 4L
To find the marginal production function of the second worker employed, we substitute L = 2 into the derivative.
dQ/dL = 20 - 4(2)
= 20 - 8
= 12
Therefore, the value of the marginal production function of the second worker employed is 12.
Q = 20L - 2L^2
Taking the derivative:
dQ/dL = 20 - 4L
To find the marginal production function of the second worker employed, we substitute L = 2 into the derivative.
dQ/dL = 20 - 4(2)
= 20 - 8
= 12
Therefore, the value of the marginal production function of the second worker employed is 12.