A short-run production function was estimated as $Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }$ At 20 units of labor,what is total product?
A)48
B)96
C)20
D)62
E)41

Name: A short-run production function was estimated as $Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }$ At 20 units of labor,what is total product? A)48 B)96 C)20 D)62 E)41
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Question

Quizplus · Accepted Answer

To find the total product at 20 units of labor, substitute $L = 20$ into the production function: $Q = -0.002(20)^3 + 0.16(20)^2 = -0.002(8000) + 0.16(400) = -16 + 64 = 48$.

A Short-Run Production Function Was Estimated As Q=−0.002L3+0.16L2Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }Q=−0.002L3+0.16L2

A Short-Run Production Function Was Estimated As $Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }$