Math Problem Statement

find the first order partial derivatives

Find the first order partial derivatives of Q = 10L^0.7 K^0.3

Solution

The function in the image is:

Q=10L0.7K0.3Q = 10 L^{0.7} K^{0.3}

To find the first-order partial derivatives of QQ with respect to LL and KK, we'll treat each variable independently.

1. Partial Derivative of QQ with respect to LL, denoted QL\frac{\partial Q}{\partial L}:

Since Q=10L0.7K0.3Q = 10 L^{0.7} K^{0.3}, applying the power rule to L0.7L^{0.7} while treating KK as a constant:

QL=100.7L0.71K0.3\frac{\partial Q}{\partial L} = 10 \cdot 0.7 L^{0.7 - 1} K^{0.3}

Simplifying this expression:

QL=100.7L0.3K0.3\frac{\partial Q}{\partial L} = 10 \cdot 0.7 L^{-0.3} K^{0.3} QL=7L0.3K0.3\frac{\partial Q}{\partial L} = 7 L^{-0.3} K^{0.3}

2. Partial Derivative of QQ with respect to KK, denoted QK\frac{\partial Q}{\partial K}:

Similarly, we differentiate Q=10L0.7K0.3Q = 10 L^{0.7} K^{0.3} with respect to KK, treating LL as a constant:

QK=100.3L0.7K0.31\frac{\partial Q}{\partial K} = 10 \cdot 0.3 L^{0.7} K^{0.3 - 1}

Simplifying this expression:

QK=100.3L0.7K0.7\frac{\partial Q}{\partial K} = 10 \cdot 0.3 L^{0.7} K^{-0.7} QK=3L0.7K0.7\frac{\partial Q}{\partial K} = 3 L^{0.7} K^{-0.7}

Summary of Partial Derivatives

The first-order partial derivatives are: QL=7L0.3K0.3\frac{\partial Q}{\partial L} = 7 L^{-0.3} K^{0.3} QK=3L0.7K0.7\frac{\partial Q}{\partial K} = 3 L^{0.7} K^{-0.7}

Would you like a further breakdown of these steps or have any specific questions?

Here are some additional questions you might find useful:

  1. What is the interpretation of these partial derivatives in economic terms?
  2. How would these partial derivatives change if the exponents of LL and KK were different?
  3. How do second-order partial derivatives of QQ with respect to LL and KK look like?
  4. What happens to QL\frac{\partial Q}{\partial L} if we increase KK while keeping LL constant?
  5. How could you use these partial derivatives to determine the marginal product of labor and capital?

Tip: When differentiating functions with constants, focus on applying the power rule to variables of interest while treating other variables as constants.

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Math Problem Analysis

Mathematical Concepts

Partial Derivatives
Calculus
Power Rule

Formulas

Q = 10L^0.7 K^0.3
Partial derivative formulas for multivariable functions

Theorems

Power Rule for Differentiation

Suitable Grade Level

College Level - Calculus