With a Cobb-Douglas production function 
, the marginal product of capital is ________ and the marginal product of labor is ________.
A) MPK = (1/3) (Y/K) ; MPL = (2/3) (Y/L)
B) MPK =(2/3) (Y/K) ; MPL = (1/3) (Y/L)
C) MPK=(2/3) (Y/K) ; MPL = (2/3) (Y/L)
D) MPK =0 (1/3) (Y/K) ; MPL = (1/3) (Y/L)
E) None of these answers is correct.
Correct Answer:
Verified
Q44: Suppose the payments to capital and labor
Q45: If Q46: The marginal product of the labor curve Q47: Suppose the payments to capital and labor Q48: In the Cobb-Douglas production function Q50: If MPK Q51: Figure 4.4: Labor Market Q52: Accounting profit is _ and is equal Q53: Figure 4.3: The Production Function Q54: In the Cobb-Douglas production function 
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents