Given a firms production function as Q = 5L1/2 - 0.1L and its average revenue function as AR = 768 - 3Q :
a) Determine the marginal productivity of labour (MPl).
b) At what value of L will the MPl found in a) be equal to zero?
c) does the production function exhibit the property of diminishing marginal productivity of labor?
d) Determine the marginal revenue productivity of labor (MRPl)
e) If the firm employs 100 people, what is the value of:
i. Marginal revenue (MR)
ii. Marginal productivity of labor (MPl)?
iii. Marginal revenue productivity of labor (MRPl)
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