Suppose the production function for a firm is given by: q=5L0.5K0.25. In the short run, the firm has 16 units of capital. Find the Marginal Product of Labor (MPL). Fill in the appropriate numbers in the function below. MPL = L-0.5 (Round to the nearest 2 decimal places if necessary.)
Suppose the production function for a firm is given by: q=5L0.5K0.25. In the short run, the firm has 16 units of capital. Find the Marginal Product of Labor (MPL). Fill in the appropriate numbers in the function below. MPL = L-0.5 (Round to the nearest 2 decimal places if necessary.)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Lesson 7- Production
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![Suppose the production function for a firm is given by: q=5L0.5K0.25. In the
short run, the firm has 16 units of capital.
Find the Marginal Product of Labor (MPL). Fill in the appropriate numbers in
the function below.
MPL =
L-0.5
(Round to the nearest 2 decimal places if necessary.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17f646ba-b993-4044-9bb2-45d012c56776%2F05ebdd35-7a29-4144-a312-592e13d5c5ed%2Fm6255tf_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose the production function for a firm is given by: q=5L0.5K0.25. In the
short run, the firm has 16 units of capital.
Find the Marginal Product of Labor (MPL). Fill in the appropriate numbers in
the function below.
MPL =
L-0.5
(Round to the nearest 2 decimal places if necessary.)
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