If wages in the restaurant is $12.00 per hour and the price of a Hamburger is $4.00 and the production function for the workers is: Q = 4L - 0.5L2 a....
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Question

If wages in the restaurant is $12.00 per hour and the price of a Hamburger

is $4.00 and the production function for the workers is:
 Q = 4L - 0.5L2
 a. How many workers should Your Restaurant employ during the lunch hour to maximize profits? 
 1 Point
 (note—the value of the marginal product of labor and the marginal revenue product are the same)
  We maximize profits which are total revenues less total costs:


b. Compute the maximum profit at Your Restaurant.  (note—consider that profit involves Total Revenue and Total Costs)

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Subject: Business, Economics
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