11 10 Points Suppose The Firm S Output Q Is Related To Capital Input K And Labour In 3439996
11. (10 points) Suppose the firm’s output Q is related to capital input K and labour input L by the production function (a): Find dQ/dK (marginal product of capital). (b): Find dQ/dL (marginal product of labour). (c): Find dQ/dK2 and dQ/dI2 and show that they have values less than zero (diminishing returns to factor). (d): Suppose further that K and L are given by the linear functions. Find dQ/dt if K = 5 + 2t and L = 2+1.
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