Suppose given the Cobb–Douglas production function, Q = AKaLß, inputs K and L are increased by a…


Suppose attached the Cobb–Douglas evolution office, Q = AKαLβ, inputs K and L are increased by a element k. Profession the conditions below which Cobb–Douglas evolution office professions (a) increasing, (b) continuous and (c) powerless returns to lamina.

Using Cobb–Douglas evolution office in its public produce, profession that

(a) MPK = αA(K/L)α–1, and

(b) MPL = βA(K/L)1–β