Question

pleaseshow work for number 4

he cross-price elasticity of demand de Polo , and P is do (-2.6).4 I PO .. 4. Determine the average product and marginal product of labor (L) and capital (K) for each of the following production functions: (a) Q = 18L? +14L-12K 12.8 T 0 Qd L (b) Q = 10L-SR5 1-3.2 -0.44 (c) Q = 17L +9K+.6L 4K5

Answer 1

A
arhau 0.&X100 X 10 182 41412 3 total poduct nteed Avecage duct Af _॥ह।२41413 1120 18 L+ 1ALLK 1812 AR 14. 25 MP= 36L + 13L-2LK Mh aq ak -27 0.5 b&=10L O.5 0.S 10k AP = D.5-0.5 10 =10K 101015k0.5 10 - 0.5 0.5L MR= 10K0.5 -0.5 MK lO050.5K 5 K 14

0.4 0.5 &=1-7L +9K + 060 +0.6 LL L AP L 0.5 -O6 L 0.4 7 494061 0.A,0-5 Lt90 6L aq MR= BL - 17 +06k 0.5-06 L =17+0.8AK .05 K 94061 O.4 9+0.31 K
verage Product is total product divided by the variable input. In case of average Product of labour we divide it by labour; in case of capital, we divide total product by capital.

Marginal product is the change in total product as a change in the variable input. Differentiating total product i.e. Q, we get the respective marginal products.