Chapter 14.3, Problem 16E

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11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

Suppose that a company’s production function for a certain product is

*x* is the number of work-hours of unskilled labor and *y* is the number of work-hours of skilled labor.

Find the marginal productivity of (a) *x.* (b) *y.*

**(a)**

To determine

**To calculate:** The marginal productivity of *x* if the production function for a certain product is *x* is the number of work-hours of untrained labor and *y* is the number of work-hours of skilled labor.

Explanation

**Given Information:**

A company’s production function for a certain product is *x* is the number of work-hours of untrained labor and *y* is the number of work-hours of skilled labor.

**Formula used:**

For a production function of the form *x* is given by *y* is given by

For a function *f* with respect to *x* is calculated by taking the derivative of *x* and keeping the other variable *y* constant. The partial derivative of *f* with respect to *x* is denoted by

Power of

Chain rule for the function

Constant function rule for a constant

The coefficient rule for a constant

**Calculation:**

A company’s production function for a certain product is *x* is the number of work-hours of untrained labor and *y* is the number of work-hours of skilled labor

**(b)**

To determine

**To calculate:** The marginal productivity of *y* if the production function for a certain product is *x* is the number of work-hours of untrained labor and *y* is the number of work-hours of skilled labor.

Sect-14.1 P-1CPSect-14.1 P-1ESect-14.1 P-2ESect-14.1 P-3ESect-14.1 P-4ESect-14.1 P-5ESect-14.1 P-6ESect-14.1 P-7ESect-14.1 P-8ESect-14.1 P-9E

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