question archive Consider a Cobb-Douglas production function with technology in it: Y = AkÁL A: technology a) Use calculus to solve for the MPL and MPK
Subject:EconomicsPrice: Bought3
Consider a Cobb-Douglas production function with technology in it: Y = AkÁL A: technology a) Use calculus to solve for the MPL and MPK. Do they rise, fall or stay the same when technology improves (AT)? b) Graph the impact of better technology on any markets affected by this in the Classical Model.