Question: Suppose the production function for a product is Q = 8 5 K 3 / 5 L 2 / 5 where K is the capital

Suppose the production function for a product is
Q =85K3/5L2/5
where K is the capital expenditures and L is the number of work-hours.
(a)
Find the marginal productivity of K (MPK).
(b)
Find the marginal productivity of L (MPL).
(c) Evaluate the marginal productivity ofK(MPK) when the firm uses50units of labor (L) and100units of capital (K).(round to the next unit)
MPK =
Explain the economic meaning of your answer above:
(d) Evaluate the marginal productivity ofL(MPL) when the firm uses50units of labor (L) and100units of capital (K).(round to the next unit)
MPL =
Explain the economic meaning of your answer above:
(e) Now suppose that this company's cost constraint is the following:
200K +150L =27500
.
Given the cost constraints, what values of K and L will maximize production? (round to the next unit)
K = units
L = units
What is the highest level of production possible given the cost constraint? (round to the next unit)
Q = units

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