Consider an economy with the following Cobb-Douglas production function: Y = AKOLB Further, assume the assumptions made in lecture 1 hold and that alpha and beta are both strictly positive. Answer the following questions: a) For this part of the question only, assume a = 0.2 and B = 1.1. Provide an interpretation for the exponent of the capital input. b) Find expressions for the marginal product of capital (MPK) and labour (MPL) in this economy, using a and B. For what values of a and S would the assumption of diminishing return to inputs is satisfied? Provide a brief explanation of what diminishing returns to inputs mean