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3. Assume the following Cobb-Douglas production function: Y=0.32 K0'75L0'25 . If L = 90, a. Estimate the marginal product of capital and demonstrate diminishing marginal
3. Assume the following Cobb-Douglas production function: Y=0.32 K0'75L0'25 . If L = 90, a. Estimate the marginal product of capital and demonstrate diminishing marginal product of this input b. Estimate real capital income c. Estimate the share of capital income on national income
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
