Average and marginal products

Assignment Help Business Economics

Reference no: EM138588

Q. Assume the production function of the company is:
Q = 7V - 0.5V2
Where Q is the production and V is the number of employees working 8 hours a day

a. Develop a production plan from 1 to 10 V

b. Compute the average and marginal products

c. Weekly hours worked are 40 and the product price is $ 5.00

d. Classify the three stages.

Reference no: EM138588

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