Need algebra help with the total product function

Nov 16th, 2015
SKTFaker
Category:
Algebra
Price: \$5 USD

Question description

if the total product function (output) by using L units of labor input is TP(L) units where

TP(L) = aL+bL^2 −cL^3,a > 0,b > 0,c > 0.
(a)Find the expression for the marginal product of the Lth labor input, which is
TP(L)−TP(L−1).
(b) Take a = 100, b = 1 and c = 1 to answer the remaining parts. Find the marginal product of the second labor input.
(c)Find the marginal product of the ﬁfth labor input. (d)Recall marginal product is deﬁned using the derivatives as
MP(L) =dTP(L)/dL

(Top Tutor) Daniel C.
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