Draw the average product of labor curve

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Reference no: EM131073937

The production function at Jerry’s Copy Shop is q = 1000 x min(L, 3K), where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines.

A) Draw 2 isoquants for this production function, one representing q = 1000 and the other q = 3000. The graph should have L on the x-axis and K on the y-axis.

B) Draw the average product of labor (APL) curve for this production function, assuming K = 1. The graph should have L on the x-axis and APL on the y-axis.

C) Draw the marginal product of labor (MPL) curves for this production function, assuming K = 1. The graph should have L on the x-axis and MPL on the y-axis.

Reference no: EM131073937

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