Consider an economy characterized by the following Cobb-Douglas production function:
Y=4K^{1/4}L^{3/4}
Where K and L represent physical capitaland labor, respectively. Assume that these inputs are given and fixed where, K= 6000 and L=1600
a) Derive an expression for the marginal product of physical capital (MP_{K})
b) Derive an expression for the marginal product of labor (MP_{L})
c) Find the total output in this economy
d) Find the amount of output contributed by labor
e) Find the amount of output contributed by capital