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Exercises · Q11

Q.A firm's output is given by the production function Q(L,K)=4L2+3LK+2K2Q(L,K) = 4L^2 + 3LK + 2K^2, where LL is labour and KK is capital. Find the marginal product of labour and the marginal product of capital when L=5L=5 and K=10K=10.

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Step 1 — Find the marginal product of labour. Differentiate Q=4L2+3LK+2K2Q=4L^2+3LK+2K^2 with respect to LL, treating KK as constant: MPL=∂Q∂L=8L+3KMP_L = \dfrac{\partial Q}{\partial L} = 8L+3K.

Step 2 — Find the marginal product of capital. Differentiate the same QQ with respect to KK, treating LL as constant: MPK=∂Q∂K=3L+4KMP_K = \dfrac{\partial Q}{\partial K} = 3L+4K.

Step 3 — Evaluate both at L=5,K=10L=5, K=10.

MPL(5,10)=8(5)+3(10)=40+30=70MP_L(5,10) = 8(5)+3(10) = 40+30=70

MPK(5,10)=3(5)+4(10)=15+40=55MP_K(5,10) = 3(5)+4(10) = 15+40=55 …

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