{"id":43663,"date":"2024-04-15T21:32:40","date_gmt":"2024-04-15T21:32:40","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=43663"},"modified":"2024-04-15T21:32:40","modified_gmt":"2024-04-15T21:32:40","slug":"given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/","title":{"rendered":"Given the production function q = 4L + K, what is the formula for the marginal product of labour?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;4 + k&#8221; option2=&#8221;4&#8243; option3=&#8221;4k&#8221; option4=&#8221;Cannot be determined with the information given&#8221; correct=&#8221;option4&#8243;]<!--more--><\/p>\n<p>The correct answer is D. Cannot be determined with the information given.<\/p>\n<p>The marginal product of labor (MPL) is the additional output produced by an additional unit of labor. It is calculated by taking the derivative of the production function with respect to labor. In this case, the production function is $q = 4L + K$. Taking the derivative with respect to labor gives us $MPL = 4$. However, this is only the marginal product of labor when capital is held constant. If capital is allowed to vary, then the marginal product of labor will be different. To calculate the marginal product of labor when capital is allowed to vary, we would need to know the relationship between capital and output. This information is not given in the question, so we cannot determine the marginal product of labor.<\/p>\n<p>Option A is incorrect because it includes the term $k$, which is the amount of capital. However, we do not know the relationship between capital and output, so we cannot include $k$ in the formula for the marginal product of labor.<\/p>\n<p>Option B is incorrect because it does not include the term $k$. However, we know that the marginal product of labor is not equal to 4 when capital is allowed to vary.<\/p>\n<p>Option C is incorrect because it includes the term $4k$. However, we do not know the relationship between capital and output, so we cannot include $4k$ in the formula for the marginal product of labor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;4 + k&#8221; option2=&#8221;4&#8243; option3=&#8221;4k&#8221; option4=&#8221;Cannot be determined with the information given&#8221; correct=&#8221;option4&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-43663","post","type-post","status-publish","format-standard","hentry","category-economics","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Given the production function q = 4L + K, what is the formula for the marginal product of labour?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Given the production function q = 4L + K, what is the formula for the marginal product of labour?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;4 + k&#8221; option2=&#8221;4&#8243; option3=&#8221;4k&#8221; option4=&#8221;Cannot be determined with the information given&#8221; correct=&#8221;option4&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T21:32:40+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Given the production function q = 4L + K, what is the formula for the marginal product of labour?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/","og_locale":"en_US","og_type":"article","og_title":"Given the production function q = 4L + K, what is the formula for the marginal product of labour?","og_description":"[amp_mcq option1=&#8221;4 + k&#8221; option2=&#8221;4&#8243; option3=&#8221;4k&#8221; option4=&#8221;Cannot be determined with the information given&#8221; correct=&#8221;option4&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T21:32:40+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/","url":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/","name":"Given the production function q = 4L + K, what is the formula for the marginal product of labour?","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-15T21:32:40+00:00","dateModified":"2024-04-15T21:32:40+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/given-the-production-function-q-4l-k-what-is-the-formula-for-the-marginal-product-of-labour\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Economics","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/economics\/"},{"@type":"ListItem","position":4,"name":"Given the production function q = 4L + K, what is the formula for the marginal product of labour?"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/761a7274f9cce048fa5b921221e7934820d74514df93ef195a9d22af0c1c9001?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/43663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=43663"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/43663\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=43663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=43663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=43663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}