Problem
1. For the production function Q = 8K0.6L0.5 derive a function for the slope of the marginal product of L. What effect will a marginal increase in K have upon this MPL function?
2. Derive all the second-order and cross partial derivatives for the production function Q = 35KL + 1.4LK2 + 3.2L2 and interpret their meaning.
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.