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4.A firm can manufacture a product according to the production function
Q = F(K, L) = K L 2
A. Calculate the average product of labor, APL, when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 81 units of labor?
Find an expression for the marginal product of labor, MPL, when the amount of capital is fixed at 16 units. Then, illustrate that the marginal product of labor depends on the amount of labor hired by calculating the marginal product of labor for 16 and 81 units of labor.

Respuesta :

The average product of labor changes when the firm uses 16 units of labor is 3.375

How to calculate the average product of labor?

The average product of labor will be calculated as = Q/L

APL = (K¾ L¼)/L

APL= (K¾)/ (L¾)

Therefore, when K=81 and L=16

APL= (81)¾ / (16)¾

APL= 3³/2³ = 27/8 = 3.375

When L= 256 and K= 81

APL = (81)¾ / (256)¾

APL= 3³/4³ = 27/64 = 0.421

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