Multiple Choice
With a Cobb-Douglas production function , the marginal product of capital is ________ and the marginal product of labor is ________.
A) MPK = (1/3) (Y/K) ; MPL = (2/3) (Y/L)
B) MPK =(2/3) (Y/K) ; MPL = (1/3) (Y/L)
C) MPK=(2/3) (Y/K) ; MPL = (2/3) (Y/L)
D) MPK =0 (1/3) (Y/K) ; MPL = (1/3) (Y/L)
E) None of these answers is correct.
Correct Answer:

Verified
Correct Answer:
Verified
Q54: Which of the following production functions exhibits
Q55: Throughout the text, a simplifying assumption
Q56: If the production function is given by
Q57: Which of the following do(es) NOT explain
Q58: Which of the following is/are essential for
Q60: As an economist working at the International
Q61: If MPK = r, the firm:<br>A) should
Q62: Consider two countries, labeled 1 and
Q63: The marginal product of the labor curve
Q64: In the year 2014 the five richest