You are told that a profit-maximizing firm employs 15 workers and 3 units of capital. It produces output using the production function: Y= K(2/3)*LA(1/3) where Kis physical capital and Lis the number of workers. Compute the marginal product of capital. (State your answer to 2 decimal places)

You are told that a profit-maximizing firm employs 15 workers and 3 units of capital. It produces output using the production function: Y= K(2/3)*LA(1/3) where Kis physical capital and Lis the number of workers. Compute the marginal product of capital. (State your answer to 2 decimal places)

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 8P

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