# Suppose the cost function is a multivariate of the type: where Q is output and K, capital; L,...

## Question:

Suppose the cost function is a multivariate of the type:

where Q is output and K, capital; L, Labor; and M, materials are inputs.

2.1 Find the marginal products of the inputs.

## Marginal Productivity:

Marginal productivity is the additional output that gets produced from an addition unit of some input. When looking at a production function, the marginal productivity can be found by taking the first derivative of the function with respect to the input.

## Answer and Explanation: 1

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View this answerAssume the following production function:

{eq}Q = 2K + L^2 + 0.5M^2 {/eq}

First, to find the marginal product of capital (K), find the first...

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Chapter 17 / Lesson 16Learn about labor productivity. Understand how to calculate labor productivity, examine the labor productivity formulas, and see how to improve labor productivity.

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