Question

suppose the production function is give by q(l k) =l 3/4 k 1/4 assuming copital is fixed . find apl & mpl​

Answer 1

Explanation:

AP

L

=

L

TP

AP_L=\frac{L^{\frac{3}{2}} K^{\frac{1}{2}}}{L}=(LK)^{\frac{1}{2}}AP

L

=

L

L

2

3

K

2

1

=(LK)

2

1

MP_L=\frac{\varDelta TP_L}{ \varDelta L}MP

L

=

ΔL

ΔTP

L

MP_L=\frac{3}{2}L^{\frac{1}{2}}K^{\frac{1}{2}}MP

L

=

2

3

L

2

1

K

2

1

Answer 2

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