Cobb-douglas production function, Macroeconomics

Consider an economy characterized by the following Cobb-Douglas production function:

Y=4K1/4L3/4

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 (MPK)

b) Derive an expression for the marginal product of labor (MPL)

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

 

Posted Date: 2/21/2013 1:56:21 AM | Location : United States







Related Discussions:- Cobb-douglas production function, Assignment Help, Ask Question on Cobb-douglas production function, Get Answer, Expert's Help, Cobb-douglas production function Discussions

Write discussion on Cobb-douglas production function
Your posts are moderated
Related Questions
You should now find a press release from the Board of Governors of the Federal Reserve System, dated December 16, 2009, which discusses the decisions of the Federal Open Market Com

given the market demand curve is P=a-bQ and MC=D. derive mathematicaly a perfect compettition, B monopoloy, C, Cournot Duopoly, D cournot Tipopoly, E cournot quadropoly, F Stackleb

:- Consider a closed capitalist economy in which all productions is undertaken by100 firms and wages and profits are theonly 2 categories of incomes. Assume further that all wages

What are the Four different measures of GDP Using circular flow model we see that there are 4 equivalent techniques of measuring GDP: Using the definition: market value

Determine the Gross domestic product Gross domestic product is the total value of an economy's domestic output of goods and services. Gross national product is the similar as

WTO Negotiations: As is obvious from the above explanation  that India has favoured multilateral trade reforms ever since the time of GATT (1947) to WTO (1995). Currently WTO

An HMO has a point of service option for its members, but will pay only 80 percent of approved charges. If a member goes out of network for a medical procedure with a charge of $20

how can a country maintain equilibrium GDP with foreign trade?

ASuppose an economy has overbuilt and suffers from excess capacity A recession ensues due to firms cutting back on expenditures. Is deficient demand more easily remedied by monetar

what are the objectives of the determinants of investments