Sppose that a firms production function is given by q , Ask an Expert

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Suppose that a firm's production function is given by Q = K^0.33L^0.67, where MPK = 0.33K−0.67L^0.67 and MPL = 0.67K^0.33L−0.33. As L increases, what happens to the marginal product of labor? What happens to the marginal product of capital?

MPL increases; MPK increases

MPL decreases; MPK decreases

MPL decreases; MPK increases

MPL increases; MPK decreases

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91720756

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