(Answered) The following is a cobb-douglas production functiontp 85

Management Studies

The following is a Cobb-Douglas production function:

TP = 85 K^0.75 L^0.25

If the firm employs 35 units of capital and 125 units of labor, find:

a. The average product of Capital (AP_K), and the Average product of labor (AP_L)

b. The marginal product of Capital (MP_K), and the marginal product of labor (MP_L)

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