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Level curves & Cobb Douglas 1. Draw the level curves that correspond to the c values of -3, -2, 0, 1, and 3 of the

Level curves & Cobb Douglas

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1. Draw the level curves that correspond to the \"c\" values of -3, -2, 0, 1, and 3 of the function 2. Given the following Cobb-Douglas production function a) Find the marginal productivity of capital when K: 1024 and L = 32 b) Find the marginal productivity of labor when K = 1024 and L = 32 c) Interpret your results from parts a) and b) and answer: for the greatest increase in productivity at this point, should the government encourage increased use of capital or labor (assuming they cost the same)

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