Q1: PRODUCTION AND COSTS Let Q(L) = 6L2- (L³)/6 with costs = 300 + 100L. b) Why is L = 25 or larger not something we sho

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Q1 Production And Costs Let Q L 6l2 L 6 With Costs 300 100l B Why Is L 25 Or Larger Not Something We Sho 1 (93.52 KiB) Viewed 57 times

Q1: PRODUCTION AND COSTS Let Q(L) = 6L2- (L³)/6 with costs = 300 + 100L. b) Why is L = 25 or larger not something we should consider? c) Confirm that APL is maximized where MPL = APL. (You can plot APL and MPL versus L. Or you can use the table directly. Find the maximum AP₁. For labour below this we should see MPL > APL. For labour above we should see MPL <APL.) Confirm that AC is minimized where MC = AC d) e) Confirm that AVC is a minimum where APL is a maximum f) Confirm that MC is a minimum where MPL is a maximum