A company's short-run estimated production function is given as: Q = 36L² -0.4L³
a. Write the marginal product of labour and average product of labour functions.
b. Calculate the number of labour that maximizes average product. And how much is the maximum value of average product?
c. At what number of labour does Stage III starts to occur? How much is total production at that level of employment?
d. What is the range number of labour where rational production happens?
