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Hi, Please solve A and B on question 3. Thank you! 3.) Optional/Extra Credit. Consider the following production function: Y (K, L) = Alako +

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Hi, Please solve A and B on question 3. Thank you!

image text in transcribed
3.) Optional/Extra Credit. Consider the following production function: Y (K, L) = Alako + (1 -a)LY a. For what value of y is Y (K, L) is a constant returns to scale production function? Demonstrate. b. Derive the per capita production function under the appropriate value of y. For hints on this question come to office hours

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