Question

If you have the average production function: APL=3L2 - 0.05L3, the function of marginal product of labour, MPL is

Answer 1

The marginal product of labor function or MPL=
`9L^(2)-0.2L^(3)`.

Explanation:

• The Average Production Function or APL is given as
  `APL=3L^(2)-0.05L^(3)` where "L" represents the overall amount labor in the production process.
• Therefore, the Total Production Function or TPL,in this case, would be
  `TPL=(3L^(2)-0.05L^(3))* L`=
  `TPL=3L^(3)-0.05L^(4)`
• Hence,the Marginal Product of Labor, which is abbreviated as MPL will be=
  `(dL)/(dTPL)=(3* 3L^(2))-(4* 0.05L^(3))`=
  `9L^(2)-0.2L^(3)`
• Therefore,the marginal product of labor function or MPL=
  `9L^(2)-0.2L^(3)`