Answer to Question #270147 in Microeconomics for Rabelani

Question

Formula of MP

Answer 1

The marginal product is the partial derivative of the production function with respect to the factor we are examining: These factors can be capital and labour.

Marginal product of labour,$MP_{L}$ ;

$MP_{L}=\frac{\delta q}{\delta L}$

Marginal product of capital,$MP_{K}$ ;

$MP_{K}=\frac{\delta q}{\delta K}$