Determine the marginal product and show mathematically

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Reference no: EM13470146

Suppose the short-run production function for a particular product is represented by:

Q = 60,000L2 - 1,000L3

a. Find the marginal product and show mathematically that labor is subject to diminishing returns.

b. Beyond what labor usage, the marginal product becomes negative.

c. Show mathematically that when the average product is at maximum, marginal product is equal to it?

Reference no: EM13470146

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