Refer to the Following:
a Short-Run Production Function Was Estimated $Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }$

question 34

Multiple Choice

Refer to the following:
A short-run production function was estimated as

$Q = - 0.002 L ^ { 3 } + 0.16 L ^ { 2 }$
-What is average product when it is at its maximum level?

• A) 3.20
• B) 8.75
• C) 6.92
• D) 6.00
• E) 9.40

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Definitions:

Time Between Service

The duration or interval of time between the completion of one service encounter and the beginning of the next, often used in the context of service operations management.

Service Factor

A measure used in inventory control and logistics planning to determine the safety stock level required to meet a predetermined level of service.

Negative Exponential Distribution

A type of statistical distribution often used to model the time between independent events that happen at a constant average rate.