Using the Cobb-Douglas production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$ , the marginal product of labor, or the real
Wage, is:
A) $1 / 4 \cdot \frac { \bar { A } K ^ { - 3 / 4 } } { L ^ { 3 / 4 } }$
B) $2 / 3 \cdot \frac { \bar { A } K ^ { 1 / 3 } } { L ^ { 1 / 3 } }$
C) $3 / 4 \cdot \bar { A } L ^ { - 1 / 4 }$
D) $\bar { A } K ^ { 1 / 4 }$
E) $3 / 4 \cdot \frac { \bar { A } K ^ { - 1 / 4 } } { L ^ { 1 / 4 } }$

Question

Quizplus · Accepted Answer

The marginal product of labor in a Cobb-Douglas production function is derived by taking the partial derivative of the function with respect to labor, which results in $3/4 \cdot \frac{\bar{A} K^{1/4}}{L^{1/4}}$.

Using the Cobb-Douglas Production Y=AˉK1/4L3/4Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }Y=AˉK1/4L3/4

Using the Cobb-Douglas Production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$