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Consider the Cobb-Douglas production function. Find the marginal productivity of labor (L) and the marginal productivity oi capital (K) of the given functions, match the
Consider the Cobb-Douglas production function. Find the marginal productivity of labor (L) and the marginal productivity oi capital (K) of the given functions, match the answers to the appropriate functions. Note: Find the MP(L) and MP(K) of all the functions first. f(L'K): f(LiK): f(L'K): f(L,K)= 8 L02 K03 L05 K04 " V 3 K05 L0.4 " V 7 K03 L02 1. MP(K) : 1313M K04 2. MP(L) = 1-4K0'8 L0'8 3. L0.4 0.2 4. MP(K) = 5-413 K02
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