Suppose life expectancy in years(L) is a function of twoinputs, health expenditures(H) and nutrition expenditures(N) in hundreds of dollars per year. The production function is L=cH^0.6N^0.4

Beginning with c= 1, a health input of $500 per year (H equals=5) and a nutrition input of $300 per year (N equals=3), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing.

FULL QUESTION BELOW

Suppose life expectancy in years (L) is a function of two inputs, health expenditures (H) and nutrition expenditures (N) in hundreds of dollars per year. The production function is L = CH0.60 N0.40 Beginning with c = 1, a health input of $500 per year (H = 5) and a nutrition input of $300 per year (N = 3), show that the marginal product of health expenditures and the marginal product of nutrition expenditures are both decreasing The marginal product of health expenditures when H goes from 5 to 6 is , and the marginal product of health when H goes from 7 to 8 is (Round your answers to three decimal places.) Life expectancy (L) The marginal product of nutrition expenditures when N goes from 3 to 4 is and the marginal product of nutrition when N goes from 5 to 6 is (Round your answers to three decimal places.) Health expenditures (H)