n economy has the following Cobb-Douglas production function: ?=100?^(1/3)?^(2/3) . The economy has 125 units of capital and 64 units of labor. d. Calculate the marginal product of capital MPK. e. Calculate the marginal product of labor (MPL).

n economy has the following Cobb-Douglas production function: ?=100?^(1/3)?^(2/3) . The economy has 125 units of capital and 64 units of labor. d. Calculate the marginal product of capital MPK. e. Calculate the marginal product of labor (MPL).

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter8: Production And Costs

Section: Chapter Questions

Problem 2WNG

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Question

An economy has the following Cobb-Douglas production function: ?=100?^(1/3)?^(2/3) . The economy has 125 units of capital and 64 units of labor.

d. Calculate the marginal product of capital MPK.

e. Calculate the marginal product of labor (MPL).

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