Marginal Product of Labor

The marginal product of labor tells us how many additional products the firm makes with a tiny bit more labor. $$MP_L = \frac{d q \left( K, L \right)}{d L}$$

Example

In the cookie factory, the production function is $$ q \left( K, L \right) = K L^2 $$

The marginal product of labor is $$ MP_L = \frac{d q \left( K, L \right)}{d L} = 2 K L $$

Question

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