Derive formulae for the marginal products of three inputs, Microeconomics

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Derive formulae for the marginal products of three inputs

Problem

1. Derive formulae for the marginal products of the three inputs in the production function Q = 40K^0.3L^0.3R^0.4.

2. Use partial differentiation to explain why the production function

Q = 0.4K + 0.7L

does not obey the law of diminishing marginal productivity.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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