Problem
1. Derive formulae for the marginal products of the three inputs in the production function Q = 40K0.3L0.3R0.4.
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.