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Fairway produces orders (q) with labor (E) and capital (K) with the production function: q = f(E,K) = 10E1/3K1/3 In the short run capital is
Fairway produces orders (q) with labor (E) and capital (K) with the production function: q = f(E,K) = 10E1/3K1/3 In the short run capital is fixed at 8 units. The price of each order (p) is $150. The wage rate is $10 per hour and the price of capital (r) is $2. What is the expression for the marginal product of labor in the short run? Group of answer choices 1500E^(2/3)K^(1/3) 40E^(1/3) 40E^(-2/3)K^(1/3) 120E^(1/3)K^(1/3) (20/3)E^(-2/3) 2000E^(2/3)K^(1/3)
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