A person\'s productivity at a particular job may change with experience. Conside

Question

A person's productivity at a particular job may change with experience. Consider the following model of effective labor input, L, L = 10(1 - e^(-0.1t)) + 2 where L is a measure of the "effective labor input" of a particular worker and t is the worker's tenure (that is years spent in a particular job). Use differentiation to determine the marginal change in the effective labor input with respect to time on the job, t. Provide a brief economic interpretation of the differences in these values of dL/dt.

Explanation / Answer

dL/dt=10*0.1*e^(-0.1t)=e^(-0.1t)

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