Is the marginal product of labor decreasing or constant

Reference no: EM13221730

Touchie MacFeelie publishes comic books. The only inputs he needs are old jokes and cartoonists' labor. His production function is Q = 0.1 * J1/2L Where J is the number of old jokes used, L the number of hours of cartoonists' labor used as inputs, and Q is the number of comic books produced.

A. Does this production process exhibit increasing, decreasing, or constant returns to scale? Explain.

B. If the number of old jokes is 100, write an expression for the marginal product of cartoonists' labor as a function of L.

C. Is the marginal product of labor decreasing, constant, or increasing as the amount of labor increases? Explain.

Reference no: EM13221730

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