Consider a Cobb-Douglas production function, 9 = 20L .5 0.5 If L = 16 and K= 16, calculate output, q, the marginal product of labor,
Consider a Cobb-Douglas production function, 9 = 20L .5 0.5 If L = 16 and K= 16, calculate output, q, the marginal product of labor, and the marginal product of capital. If L = 16 and K= 16, then output, q, equals q = (Enter your response rounded to one decimal place.) If L = 16 and K= 16 then the marginal product of labor, MP , equals MPL = (Enter your response rounded to one decimal place.) If L = 16 and K= 16 then the marginal product of capital, MPk, equals MP k = (Enter your response rounded to one decimal place.)
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