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Calculate the average product of labor

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Reference no: EM131927206

Suppose that a firm's production function is Q=5K0.5L0.5 where Q is units of output, K and L are machine hours and labor hours, respectively. Suppose that the amount of K available to the firm is fixed at 100 machines hours.

  1. Calculate the Average Product of Labor for L=1 to L=10.

Reference no: EM131927206

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