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The short-run production function of the Auto parts firm is given by Q (L)=5L-L2, where Q is the units of output and L is the number of labor hours. Recall that “marginal product of labor” is the change in the total product as we change the amount of hired labor. Please calculate the marginal product of labor.

Hint: Use the concept of first derivative.

I am sure that I am not calculate it correcctly, as I am getting L = 5 and Q = 0 when calculated using first derivative.

Please provide a detailed answer.

Thank you.

Sagot :

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