Solved

Using the Cobb-Douglas Production Y=AˉK1/3L2/3Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }

Question 23

Multiple Choice

Using the Cobb-Douglas production Y=AˉK1/3L2/3Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 } , the marginal product of labor, or the real
Wage, is:


A) 1/3K1 / 3 \cdot K
B) 2/3AˉL1/3K1/32 / 3 \cdot \frac { \bar { A } L ^ { 1 / 3 } } { K ^ { 1 / 3 } }
C) 2/3AˉK1/3L1/32 / 3 \cdot \frac { \bar { A } K ^ { 1 / 3 } } { L ^ { 1 / 3 } }
D) 1/3AˉL1/31 / 3 \cdot \bar { A } L ^ { 1 / 3 }
E) 1/31 / 3

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions