Labor Input – NBC Institute

QTB – May 2015 – L1 – SA – Q5 – Operations Research

Identifying marginal productivity functions for labor and capital in a given production function.

Question

ABC Plc announced at its AGM in March 2014 that its production function for the year 2013 was $Q=5L^0.4K^0.6Q =$ , where is the output level, $L$ is the labor input, and $K$ is the capital input. Therefore, the marginal productivity functions for both and $K$ are respectively given as:

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Tags: Capital Input, Labor Input, Marginal Productivity, Production Function
Level: Level 1

Topic: Operations Research
Series: MAY 2015

Question Tag: Labor Input

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QTB – May 2015 – L1 – SA – Q5 – Operations Research

Identifying marginal productivity functions for labor and capital in a given production function.

QTB – May 2015 – L1 – SA – Q5 – Operations Research

Identifying marginal productivity functions for labor and capital in a given production function.

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Question Tag: Labor Input

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QTB – May 2015 – L1 – SA – Q5 – Operations Research

Identifying marginal productivity functions for labor and capital in a given production function.

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QTB – May 2015 – L1 – SA – Q5 – Operations Research

Identifying marginal productivity functions for labor and capital in a given production function.

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