Consider the Following Production Functions Along with Their Corresponding Marginal

question 132

Essay

Consider the following production functions along with their corresponding marginal product of labor function.
I. Q = 15KL, where MP_L = 15K
II. Q = 2K^0.4L^0.6, where MP_L =
III. Q = 8K + L, where MP_L = 1
a. In each case, what happens to the marginal product of labor as the firm uses more labor?
b. In each case, what happens to the marginal product of labor as the firm uses more capital?

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