In the Cobb-Douglas production function $Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }$ , defining y = Y/L as output per person and k = K/L as capital per person, the per person production function is:
A) $y = \bar { A } / k ^ { 2 / 3 }$
B) $y = \bar { A } k ^ { - 1 / 3 }$
C) $y = \bar { A } k ^ { 2 / 3 }$
D) $y = \bar { A } k ^ { 1 / 3 }$
E) None of these answers are correct.

Question

Quizplus · Accepted Answer

The per person production function is derived by dividing the original function by L, resulting in $y = \bar{A} k^{1/3}$.

In the Cobb-Douglas Production Function Y=AˉK1/3L2/3Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }Y=AˉK1/3L2/3

In the Cobb-Douglas Production Function $Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }$