what is mpk in macroeconomics
MPK and MPL are partial derivatives of the production function. MPK = A * a * L^b * K^(a-1) MPL = A * b * K^a * L^(b-1) To think of MPK, suppose that you are keeping labor constant. MPK is the additional output you get from adding more capital. Same with MPL. Suppose that you are keeping capital constant.