Question: The production function for a food product is given by the formula P=16LK-4L2+8K2+1 600 where K is units of Capital and L units of Labour

The production function for a food product is given by the formula P=16LK-4L2+8K2+1 600 where K is units of Capital and L units of Labour What is the marginal product of labour when K-4.7 and L-4.9

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Oroblanco Company has prepared consolidated financial statements for the current year and is now gathering information in connection with the following five operating segments it has identified....

92 The production function for a food product is given by the formula leLK4L2+B K2+16 where K is units of Capitai and L units of Labour: What is the marginal product of labour when K=2.? and L=5.8

also estimate the increase in production if an additional 50,000 is budgeted for the production of the product The Cobb-Douglas production function for a particular product is N(x,y)=80x0.7y03, where...

The Cobb-Douglas production function for a particular product is N(x,y) = 60x 0.8 y 0.2 , where x is the number of units of labour and y is the number of units of capital required to produce N(x,y)...

The Cobb-Douglas production function for a particular product is N(x,y)=40x0.7y0.3, where x is the number of units of labor and y is the number of units of capital required to produce N(x,y) units of...

Hi I need help on what is the answer to this problems? Below is the question and other concerns will be in the comment section . I hope you can help me and surely I will give you full positive...

3) (Lagrange Multipliers) (15 pts) The production function for a particular product is given by N(x,y) = 40.2.0.8,0-2, where x is the number of units of labor and y is the number of units of capital...

PLS HELP ME 6. (4p) Consider a Heckscher-Ohlin model with two countries, Home and Foreign, and two factors of production, land (T) and labor (L). Land and labor are used to produce two goods, gadgets...

Following table gives production function data for product X for given range of capital and labour (here labour is 8 man hours) for long run. Consider the case of short run for the firm, where it is...

Farmer Jones bought his farm for $75,000 in 1980 and wants to sell it.Today the farm is worth $500,000, and the interest rate is 10 percent.ABC Corporation has offered to buy the farm today for...

Question 16 When successfully implemented, which of the following pricing strategies does not lead to zero consumer surplus? Group of answer choices two-part pricing. block pricing. 1st degree price...

A load of bricks is being lifted by a crane at a steady velocity of 5 m/s when one brick falls off 6 m above the ground. (a) Sketch x(t) to show the motion of the free brick. (b) What is the greatest...

Explain the income and substitution effects of an increase in the price of one good on an individuals consumption choice.

If the NPV is positive, it signals a . that the value of the firm has increased. b . that the initial investment has been recovered. c . that the IRR is greater than the discount rate used in the NPV...

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Is there a clear hierarchy of points in my outline?

B If you were on a jury in a criminal trial, what would your expectations for evidence be? Would you be willing to convict someone based on a fiber sample, even if the expert witness described it as...

2 Weve spent much of this chapter talking about the importance of outlining and of communicating your final outline clearly to your audience. How is that different from presenting your outline in...