Chapter 14.2, Problem 54E

To determine

To calculate: The value of $\frac{\partial Q}{\partial K}$ and $\frac{\partial Q}{\partial L}$ for capital expenditures $250,000 and the labor hours 1225 for the output Q (in gallons of paints) of a paint manufacturer can be modeled by $Q=140K^{1/2}{L}^{1/2}$ where K is the company’s capital expenditures in thousands of dollars and L is size of labor force (in hours worked). Interpret each answer.