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In the short-Mn, we assume that capital is a xed input and labor is a variable input, so the firm can increase output only by
In the short-Mn, we assume that capital is a xed input and labor is a variable input, so the firm can increase output only by increasing the amount of labor it uses. In the short-run, the rm's production function is q =f(L,K), _ 2 1 3 q 6LK + 3L 5 L , where q is output, L is workers, and K is the xed number of units of capital. What is the miarQEproduct of labor as a function of L and K? MPL = 6K + 6L - L2 . (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g,, a superscript can be created with the A character) For example, if L = 7 and K = 23, then the marginal product of labor equals MPL = . (Enter a numeric response using an integer.)
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