If the production function is Q = K^.5L^.5 and capital is fixed at 9 unit, then the marginal product of labor when L = 49 is A)3. B)9/98. C)3/14. D)none of the statements associated with this question are correct.

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Quizplus · Accepted Answer

The marginal product of labor is the change in output resulting from a one-unit increase in labor input, holding capital constant. In this case, the production function is Q = K^.5L^.5, and capital is fixed at 9 units. So, the marginal product of labor is:```MP_L = dQ/dL = 0.5 * K^.5 * L^-0.5```Substituting K = 9 and L = 49, we get:```MP_L = 0.5 * 9^.5 * 49^-0.5 = 3/14```Therefore, the marginal product of labor when L = 49 is 3/14.

If the Production Function Is Q = K