contestada

A firm’s production function is
Q = 50L − 0.01L2
where L denotes the size of the workforce. Find the value of MPL in the case when
(a) L = 1 (b) L = 10 (c) L = 100 (d) L = 1000

Respuesta :

The value of MPL for the various cases are;

A) MPL = 49.98

B) MPL = 49.8

C) MPL = 48

D) MPL = 30

We are given;

Q = 50L - 0.01L²

Now MPL means marginal product of labor and it is defined as the derivative of Q with respect to L. Thus;

MPL = dQ/dL = 50 - 2(0.01L)

A) When L = 1;

MPL = 50 - 2(0.01 × 1)

MPL = 49.98

B) When L = 10;

MPL = 50 - 2(0.01 × 10)

MPL = 49.8

C) When L = 100

MPL = 50 - 2(0.01 × 100)

MPL = 48

D) When L = 1000

MPL = 50 - 2(0.01 × 1000)

MPL = 30

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