need some explanation on deriving a Marginal Product of Labor function from a Cobb Douglass Production Function: F(Kbar,N)=Alog(1+(K^.5)(N^.5)) such that A=20. Ultimately I will calculate MPN such that (4,0) and (1,1).
need some explanation on deriving a Marginal Product of Labor function
from a Cobb Douglass Production Function: F(Kbar,N)=Alog(1+(K^.5)(N^.5)) such that A=20. Ultimately I will calculate MPN such that (4,0) and (1,1). I need help getting from the production function to the MPN which is really d/dN[F(K,N)]. The answer is apparently (.5 ((K/N)^.5))/(1+(K^.5)(N^.5)). I got this times 20/ln10. Is this wrong? Why? Although this is a macroeconomic theory problem, I could find help from someone explaining the basic differential calculus.
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