A firm produces 231 doohickeys with 8.4 units of labour and 22.1 units of capital. the marginal product of labour is 18, the marginal product of capital is 20. Approximately how many doohickeys will it produce with 8.6 units of labour and 22 units of capital?
Is this just as simple as taking the difference between the new and original values and multiplying that by the marginal product?
i.e. (8.6-8.4) x 18 + (22-22.1) x 20 = 1.6
so they will produce approximately 232.6 doohickeys
Or am i supposed to take the integral of the marginal products and do something with those? i tried that but I couldnt get any where