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Commerce
Economics
Difficulty: Medium
The short-run production function for a firm is as follows Q = -L 3 + 15L 2 + 10L Where Q denotes total output in physical units and L denotes units of labour which are homogeneous, but are not perfectly divisible and change in labour does not tend to become zero. Statement I In this production function, the marginal product of 5 th unit of labour is 85. Statement II Similarly, in this production function, the average product of the 5 th unit of labour is 60.
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