Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help please thnk you! 1. Consider production function Y = AK1/413/4, the marginal productivity of labor (A) LAK-3/4 13/4 (B) 'AK1/4L-1/4 (C) AK1/4L-1/4 (D)

Need help please thnk you!

image text in transcribed
1. Consider production function Y = AK1/413/4, the marginal productivity of labor (A) LAK-3/4 13/4 (B) 'AK1/4L-1/4 (C) AK1/4L-1/4 (D) Y/L 2. In the Cobb-Douglas production function Y = KoLl-a, if a = 1/3, then: (A) capital's share of income is one. (B) labor's share of income is one. (C) labor's share of GDP is 2/3. (D) labor's share of GDP is 1/3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Macroeconomics

Authors: Lee Coppock, Dirk Mateer

2nd Edition

0393614093, 9780393614091

More Books

Students also viewed these Economics questions