Math Problem Statement
give the production Q=2.5L² where Q and L are quantity of labour and the given total revenue function R= 120Q=0.2Q² find marginal product of labour(L) when L =10
Solution
To find the marginal product of labor (MPL) when , we follow these steps:
Step 1: Find the expression for Marginal Product of Labor (MPL)
The production function is given by: The marginal product of labor (MPL) is the derivative of the production function with respect to labor : Differentiate the production function with respect to :
Step 2: Calculate MPL when
Substitute into the MPL expression:
Answer:
The marginal product of labor (MPL) when is 50 units of output.
Do you want any more details or have any questions?
Here are some related questions to consider:
- How does the marginal product of labor change as increases?
- What is the significance of the production function being quadratic in ?
- How would the MPL change if the coefficient in the production function was different?
- What is the relationship between MPL and the slope of the total product curve?
- How does the total revenue change when increases?
Tip: When dealing with marginal products, always check how they vary with different input levels to understand the efficiency of production at various stages.
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Math Problem Analysis
Mathematical Concepts
Production Function
Marginal Product of Labor
Derivatives
Formulas
Q = 2.5L^2
MPL = dQ/dL
Theorems
-
Suitable Grade Level
Undergraduate
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