Question
Asked Oct 18, 2019
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Consider a firm that has production function f(L,K)= 3L2/3K1/3. What is the expression for this firm’s Marginal Product of capital?

MPK(L,K)= 3L2/3/K1/3.

MPK(L,K)= 3L2/3/K2/3.

MPK(L,K)= L1/3/K1/3.

MPK(L,K)= L2/3/K2/3.

MPK(L,K)= 2L2/3/K1/3.

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Expert Answer

Step 1

Firm’s production function is given as:

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K f(L,K) 3L

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Step 2

Marginal product of capital is the increase in output of a firm when a unit of capital is added to production. ...

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of(L,K) MPx ак 28вк* MPR ок МP, — 313 (-к вВк% MP L K

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