Math Problem Statement
F(A,K,L)=A(K^(1/2) + L^(1/2))^2 Find MPL and MPK
Solution
The given production function is:
To find the Marginal Product of Labor (MPL) and the Marginal Product of Capital (MPK), we need to take the partial derivatives of the production function with respect to and , respectively.
Marginal Product of Labor (MPL)
The MPL is the partial derivative of the production function with respect to .
-
Start with the production function:
-
Apply the chain rule to differentiate with respect to :
-
Differentiate with respect to , noting that is a constant:
-
So, the Marginal Product of Labor (MPL) is:
Simplifying:
Marginal Product of Capital (MPK)
The MPK is the partial derivative of the production function with respect to .
-
Differentiate with respect to :
-
Differentiate with respect to , noting that is a constant:
-
So, the Marginal Product of Capital (MPK) is:
Simplifying:
Final Results:
- MPL:
- MPK:
Would you like further details or clarifications?
Here are 5 related questions you may find interesting:
- How would you interpret the significance of MPL and MPK in this model?
- How do changes in (productivity) affect MPL and MPK?
- What happens to MPL and MPK as or increases significantly?
- How does the Cobb-Douglas production function compare to this form?
- Can you calculate MPL and MPK for specific values of , , and ?
Tip: When analyzing marginal products, pay close attention to diminishing returns as inputs increase independently.
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Differential Calculus
Marginal Products
Partial Derivatives
Formulas
F(A, K, L) = A(K^(1/2) + L^(1/2))^2
MPL = A (K^(1/2) + L^(1/2)) / L^(1/2)
MPK = A (K^(1/2) + L^(1/2)) / K^(1/2)
Theorems
Chain Rule for Partial Derivatives
Suitable Grade Level
Undergraduate Economics or Mathematics
Related Recommendation
Find the Marginal Product Function (MPL) for Q = 6L^2 - 0.4L^3
Calculate Marginal Product of Labor (MPL) | Production Function Q = 2.5L²
Marginal Productivity Calculation for Ace Novelty's Souvenir Coffee Mug Production
Marginal Productivity Functions for P = 100l^0.76k^0.24
Marginal Productivity Analysis for f(x, y) = 300x^0.65y^0.35