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Economics - Financial Markets
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Please help solving this Cobb-Douglas problem ------------------------------------------ F(K,L) = AK^(a) L^(1-a), where 0 <= a <= 1 and A > 0. a. What is the marginal product of capital and labor given this production function? b. Show whether or not the production function has constant returns to scale. (Hint: do thisfor all values, not just one. Define an extra variable to do this.) c. Show ( beginning with the marginal products) that labor and capital have constant shares of total income. What is labor’s share and what is capital’s share of income with this production functi
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no clue... haven't this yet sorry
can anyone help please??
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