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2. After the end of 3 quarters in your newly established business, you receive the following data Output Elasticity of Capital (A) is 03 .
2. After the end of 3 quarters in your newly established business, you receive the following data Output Elasticity of Capital (A) is 03 . Output Elasticity of Labour (N) is 0 7 Total Factor Productivity (A) is 15 Total number of Capital (K) is 4000 . Total number of Labour (L) is 10000 Now answer the following questions (a) Write down the Cobb-Douglas production function and derive the marginal productivity of capital and labour from that, Please (b) With the help of the above infees ation, calcul he values of LIP, and MP (c) Finally, calculate the value of total output i.e., Y
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