2173 Salk Avenue, Suite 250 Carlsbad, CA

support@assignmentprep.info

A firm’s production function

1. A firm’s production function is, where Lde notes the size of the workforce. Find the value of MPL in the case when:(a) L=1, (b) L=10, (c) L=100, (d) L=1000 Does the law of diminishing marginal productivity apply to this particular function? 2. Show that the price...