Math Problem Statement
Consider the following short-run production function (where L = variable input, Q = output): Q = 6L^2 - 0.4L^3. Determine the marginal product function (MPL).
Solution
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Math Problem Analysis
Mathematical Concepts
Calculus
Differentiation
Marginal Product of Labor
Formulas
Marginal Product of Labor (MPL) = dQ/dL
MPL = 12L - 1.2L^2
Theorems
Power Rule of Differentiation
Suitable Grade Level
College Economics or Advanced High School (Grades 11-12)
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