1. Suppose the production function for trucks is given by: q = kl + 6l² – - 13 3 where q represents the weekly quantity of trucks produced, k represents weekly capital input, and I represents weekly...

1. Suppose the production function for trucks is given by: q = kl + 6l² – - 13<br>3<br>where q represents the weekly quantity of trucks produced, k represents weekly capital<br>input, and I represents weekly labor input.<br>a. Suppose k = 45; at what level of labor input does this average productivity reach a<br>maximum? How many trucks are produced at that point?<br>b. Again assuming that k = 45, at what level of labor input does the total production<br>reach a maximum? How many trucks are produced at that point?<br>

Extracted text: 1. Suppose the production function for trucks is given by: q = kl + 6l² – - 13 3 where q represents the weekly quantity of trucks produced, k represents weekly capital input, and I represents weekly labor input. a. Suppose k = 45; at what level of labor input does this average productivity reach a maximum? How many trucks are produced at that point? b. Again assuming that k = 45, at what level of labor input does the total production reach a maximum? How many trucks are produced at that point?

Jun 07, 2022

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1. Suppose the production function for trucks is given by: q = kl + 6l² – - 13 3 where q represents the weekly quantity of trucks produced, k represents weekly capital input, and I represents weekly...

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