Exercise 1 | Wiskunde op Tilburg University

Consider the production function

$P(L,K)=10L^{\frac{1}{4}}K^{\frac{3}{4}}$ . Determine the marginal physical product of labor for

$(L,K)=(16,256)$ .

Antwoord 1 correct

Correct

Antwoord 2 optie

$3\frac{3}{4}$

Antwoord 2 correct

Fout

Antwoord 3 optie

$\dfrac{5}{64}$

Antwoord 3 correct

Fout

Antwoord 4 optie

$2\frac{1}{2}$

Antwoord 4 correct

Fout

Antwoord 1 optie

$20$

Antwoord 1 feedback

Correct:

$MPP_L(L,K)=P'_L(L,K)=2\frac{1}{2}L^{-\frac{3}{4}}K^{\frac{3}{4}}$ . Hence,

$MPP_L(16,256)=20$ .

Go on.

Antwoord 2 feedback

Wrong: That is the marginal physical product of capital, not of labor.

Try again.

Antwoord 3 feedback

Wrong: What is the

$P'_L(L,K)$ ?

See Partial derivatives.

Antwoord 4 feedback

Wrong: Use

$(L,K)=(16,256)$ .

See Partial marginality.