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Suppose that a firm's production function is given by Q=K^0.33L^0.67, Where MPK=0.33K^-0.67L^0.67 and MPL= 0.67K^0.33L^-0.33
A. As L increases, what happens to the marginal product of labor?
B. As K increases, what happens to the marginal product of labor?
C. Why would the MPL change as K changes?
D. What happens to the marginal product of capital (MPK) AS K increases? As L increases?
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"Which expression is another way of saying "marginal cost"? "
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How does the relative tax advantage change if the company decides to pay out all equity income as cash dividends that are taxed at 15%?
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