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Consider the Following Production Functions Along with Their Corresponding Marginal

Question 132

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Consider the following production functions along with their corresponding marginal product of labor function.
I. Q = 15KL, where MPL = 15K
II. Q = 2K0.4L0.6, where MPL = Consider the following production functions along with their corresponding marginal product of labor function. I. Q = 15KL, where MP<sub>L</sub> = 15K II. Q = 2K<sup>0.4</sup>L<sup>0.6</sup>, where MP<sub>L</sub> = III. Q = 8K + L, where MP<sub>L</sub> = 1 a. In each case, what happens to the marginal product of labor as the firm uses more labor? b. In each case, what happens to the marginal product of labor as the firm uses more capital?
III. Q = 8K + L, where MPL = 1
a. In each case, what happens to the marginal product of labor as the firm uses more labor?
b. In each case, what happens to the marginal product of labor as the firm uses more capital?

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I. The marginal product of labor is ...

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