Solutions Economics

The daily output of a specific factory is given by Q(K,L)=10{{K}^{1/3}}{{L}^{1/2}} Use margin

Question: The daily output of a specific factory is given by

\[Q(K,L)=10{{K}^{1/3}}{{L}^{1/2}}\]

Use marginal analysis to compute the change in the daily output as a result of changing \(L\) from625 to 627, while \(K\) remains constant at 8000

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