A firm's production function is given by q = f(L,K) = LK + 2L^2K- L^3 Suppose the firm is operating in the short-run with K = 9.
a. What is the marginal product of labor function?
b. For what values of labor does increasing marginal product exist?
c. For what values of labor does diminishing marginal product exist?
d. For what values of labor does diminishing total product exist?
e. Explain what may cause MPL to first increase and then decrease.