A firm can manufacture a product according to the production function
A firm can manufacture a product according to the production function:Q = F(K,L) = K3/4L1/4.a. Calculate the average product of labor, APL, when the level of capital is fixed at 81 units and the firm uses 16 units of labor.Instruction: Round your responses to 3 decimal places.3.375 What is the average product of labor when the firm uses 256 units of labor?.422 b. Find an […]