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Consider a water heater manufacturing company. The number of water heaters manufactured per day, q, is a function of the number of workers per day,
Consider a water heater manufacturing company. The number of water heaters manufactured per day, q, is a function of the number of workers per day, L, and the number of square feet of sheet metal per day, 3. Specifically, its (general) CES production function is _ 2 0.5 _ S 40 The wage is $320, and the price per square foot of sheet metal is $8.00. What is the mginal productivity of labor? The marginal product of labor (MPL) is MPL = B. (Property format your expression using the tool's in the palette. Hover over tools to see keyboard shortcuts. 59., a superscript can be created with the A character.)
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