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Y= K1/3 [1/3 H / a. Derive an expression for the marginal product of labor. How does an increase in the amount of human capital
Y= K1/3 [1/3 H / a. Derive an expression for the marginal product of labor. How does an increase in the amount of human capital affect the marginal product of labor? b. Derive an expression for the marginal product of human capital. How does an increase in the amount of human capital affect the mar- ginal product of human capital? c. What is the income share paid to labor? What is the income share paid to human capital? In the national income accounts of this economy, what share of total income do you think workers would appear to receive? (Hint: Consider where the return to human
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