The production function of maize farm enterprise is given as: Y = 68 + 0.8X – 0.002X2
Where Y is maize output in tons per hectare and X is nitrogenous fertilizer in kilogram per hectare. Find the level of nitrogenous fertilizer for which maize output, marginal physical product, and Average physical product were maxima.
The production function of maize farm enterprise is given as: Y = 68 + 0.8X – 0.002X2
Where Y is maize output in tons per hectare and X is nitrogenous fertilizer in kilogram per hectare. Find the level of nitrogenous fertilizer for which maize output, marginal physical product, and Average physical product were maxima.
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The short-run production function for a manufacturer of flash memory drives is shown in the table below. Base on this information (See pages 486-487) a. Where possible, complete the missing cells in the following table:
|
Input of Labor (workers per month) |
Total Output of Flash Memory Drives |
Average Physical Product |
Marginal Physical Product |
|
0 |
0 |
0 |
- |
|
1 |
25 |
25 |
|
|
2 |
60 |
30 |
|
|
3 |
85 |
28.33 |
|
|
4 |
105 |
26.25 |
|
|
5 |
115 |
23 |
|
|
6 |
120 |
20 |
b. At what point does marginal product begin to diminish?
