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Calculate the marginal product of labor

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Reference no: EM132215198

XYZ Retailing Outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function is given by Q = K1/2L1/2 and that capital is fixed at 1 unit. Based on this information, do the following calculations.

  1. Calculate the average product of labor when 9 units of labor are utilized.
  2. Calculate the marginal product of labor when 9 units of labor are utilized.

Reference no: EM132215198

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