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Economics

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

A. As L increases, what happens to the marginal product of labor?

B. As K increases, what happens to the marginal product of labor?

C. Why would the MPL change as K changes?

D. What happens to the marginal product of capital (MPK) AS K increases? As L increases?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91829342

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