Suppose that a firm’s production function is given by  where

Suppose that a firm’s production function is given by  where  and 

Q = K°33L067, where MP, = 0.33K-067 L067 and MP, = 0.67K03L033.


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 as K increases? As L increases?

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