Answer to Question #219986 in Microeconomics for Relebogile

Question

Suppose that the firm output is given by q=aLK² specify the marginal products of labour and capital

Answer 1

For the firm output given,

the Marginal product of labour will be,

$\frac{\delta q}{\delta L}=1aL^{1-1}K^2 =\frac{q}{L}$

and the Marginal product of capital will be,

$\frac{\delta q}{\delta K}=2aLK^{2-1}=\frac{2q}{K}$