This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Refer to the production function. The average product at 5 units equals ________ units. Fill in ... (Read 58 times)

anjilletteb

  • Hero Member
  • *****
  • Posts: 569
on: Jul 1, 2018
Refer to the production function. The average product at 5 units equals ________ units.
 
  Fill in the blank(s) with correct word

Question 2

Refer to the production function. The marginal product at 5 units equals ________ units.
 
  Fill in the blank(s) with correct word


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kiamars2010

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jul 1, 2018
Answer to Question 1

To get the average product, divide the total product equation by X and substitute 5 for X

Thus the average product equation becomes:
If Y = 10X + 20 X2 - X3
APy = 10 + 20X - X2
At 5, APy = 10+ 20(5 ) - (5 )2
= 10 + 100 - 25
= 85 units

Answer to Question 2

To obtain the marginal product at 5 units, take the first derivative and substitute 5 for X

Y = 10X + 20X2 - X3
dy/dx = 10 + 40(X) - 3X2
= 10 + 40(5 ) - 3(5 )2
= 10 + 200 - 75
= 135 units


anjilletteb

  • Member
  • Posts: 569
Reply 2 on: Jul 1, 2018
YES! Correct, THANKS for helping me on my review

Dnite

  • Member
  • Posts: 297
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Primary production is constrained by the most limiting factor. Primary production is constrained by the most limiting factor.
Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Pituitary gland function Pituitary gland function
Always use the viscosity of oil as specified on the oil fill cap. Always use the viscosity of oil as specified on the oil fill cap.
How to write a composite function f(g(x)) and g(f(x)) (Part 2) How to write a composite function f(g(x)) and g(f(x)) (Part 2)
How to apply integration by parts on a single function How to apply integration by parts on a single function
Video: TRH/TSH/Thyroid hormone

For a complete list of videos, visit our video library