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What is the value marginal product of labor if: P = $10, MPL = $25, and APL = 40?

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Joshua Stredder
Joshua StredderLv10
28 Sep 2019

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Related questions

2. Are the following statements true or false?

a. The average product of labor (APL ) may be increasing even if the marginal product of labor (MPL) is falling.

b. Diminishing marginal returns begin when APL = MPL.

c. If APL is falling then the total product must be decreasing.

d. MPL. is at its maximum when APL = MPL.

4. TPL= - L3+ 8 L2+ 187 L

MPL= - 3 L2+ 16 L +187

How many units of labor (L*) or the number of laborers should the firm hire to maximize output (TPL)?

What is the total amount of output (TPL) produced?

What is the average product of labor (APL)?

5. TPL= - 0.025 L3 + 5 L2+ 1000 L

MPL= - 0.075 L2+ 10 L +1000

How many units of labor (L*) or the number of laborers should the firm hire to maximize output (TPL)?

What is the total amount of output (TPL) produced?

What is the average product of labor (APL)?

6. TPL= - 0.4 L3 + 4 L2+ 40 L

MPL= - 1.2 L2+ 8 L +40

How many units of labor (L*) or the number of laborers should the firm hire to maximize output (TPL)?

What is the total amount of output (TPL) produced?

What is the average product of labor (APL)?

What is the shape of the APL Curve? why?

And Where does the MPL curve cross the APL curve? Why?

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