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Paul's Pizza Parlor bakes pizza pies according to the following production function:
Q = 3L + 0.3L2- 5L3 The labor costs $6 and pizza sells for $10.
(A). What is the average product of labor? How much L to use to maximize the average product of labor?
(B). What is the marginal product of labor? How much L to use to maximize the marginal product of labor?
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