Grease Tech produces oil changes. The production of oil changes relies on both capital (K) and labor (L) and is combined in the following production function F (K, L) = K L . Take the derivative of this production function with respect to capital. What is the marginal product of capital evaluated at (i.e. just plug in the numbers) 64 units of capital used and 16 units of labor? Type your answer...
Grease Tech produces oil changes. The production of oil changes relies on both capital (K) and labor (L) and is combined in the following production function F (K, L) = K L . Take the derivative of this production function with respect to capital. What is the marginal product of capital evaluated at (i.e. just plug in the numbers) 64 units of capital used and 16 units of labor? Type your answer...
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 3SQP
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ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc