Given the production function Q = L², calculate the average product of labor for L = 2, and also calculate the marginal product of labor between L = 1 and L = 2. A) The average product of labor is 2 and the marginal product of labor is 2. B) The average product of labor is 1 and the marginal product of labor is 3. C) The average product of labor is 3 and the marginal product of labor is 2. D) The average product of labor is 2 and the marginal product of labor is 3.

Question

Quizplus · Accepted Answer

The average product of labor (APL) is Q/L. For L = 2, Q = 2^2 = 4, so APL = 4/2 = 2. The marginal product of labor (MPL) is the change in Q when L increases by 1. From L = 1 to L = 2, Q changes from 1^2 = 1 to 2^2 = 4, so MPL = 4 - 1 = 3.

Given the Production Function Q = L2, Calculate the Average

Given the Production Function Q = L², Calculate the Average