For the production function f k l radic kl the marginal, Ask an Expert

Economics

For the production function F (K, L) = √ KL the marginal product of labor is:

MPL=1/2(K/L)^1/2

and the marginal product of capital is:

MPK=1/2(K/L)^1/2

Suppose that a firm with this production function uses 9 units of capital and 4 units of labor. Show that this production function demonstrates a diminishing marginal product of labor.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91992532

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