Need help with this question. How do you solve this problem? The production func

Question

Need help with this question. How do you solve this problem?

The production function of pizzas for One Guy's Pizza shop is y(K, L) = 4 KL. K represents the number of ovens One Guy's Pizza uses and is fixed in the short - run at 4 ovens. L represents the number of labor hours One Guy's Pizza employees and is variable in the short and long-run. Find the marginal productivity of labor (MPL) and the marginal productivity of capital (MPK) Fill in the empty columns in the table below. Does this production function exhibit increasing, decreasing or constant returns to scale? Show your proof.

Explanation / Answer

MPK=dy/dK=4K*0.5L*0.5K/dK
=4K*1.5L*0.5/dK
=4x1.5L*0.5K0.5
=6(KL)*0.5

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