With a Cobb-Douglas Production Function $Y = K ^ { 1 / 3 } L ^ { 2 / 3 }$

question 103

Multiple Choice

With a Cobb-Douglas production function $Y = K ^ { 1 / 3 } L ^ { 2 / 3 }$ , the marginal product of capital is ________ and the marginal product of labor is ________.

• A) MPK = (1/3)(Y/K   ); MPL = (2/3)(Y/L)
• B) MPK = (2/3)(Y/K   ); MPL = (1/3)(Y/L)
• C) MPK = (2/3)(Y/K   ); MPL = (2/3)(Y/L)
• D) MPK = (1/3)(Y/K   ); MPL = (1/3)(Y/L)
• E) None of these answers are correct.

Recognize the importance and characteristics of organizational core values, and how they guide conduct over time.

Distinguish between the organizational mission, vision, and core values.

Acknowledge the concept and significance of stakeholders in an organization's ecosystem.

Learn how to develop effective mission statements and understand their role within an organization.

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