Using the Cobb-Douglas Production $Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }$

question 23

Multiple Choice

Using the Cobb-Douglas production $Y = \bar { A } K ^ { 1 / 3 } L ^ { 2 / 3 }$ , the marginal product of labor, or the real
Wage, is:

• A) \(1 / 3 \cdot K\)
• B) \(2 / 3 \cdot \frac { \bar { A } L ^ { 1 / 3 } } { K ^ { 1 / 3 } }\)
• C) \(2 / 3 \cdot \frac { \bar { A } K ^ { 1 / 3 } } { L ^ { 1 / 3 } }\)
• D) \(1 / 3 \cdot \bar { A } L ^ { 1 / 3 }\)
• E) \(1 / 3\)

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Definitions:

Nervous Disorders

A broad range of medical conditions that involve the nervous system, including the brain, spinal cord, and nerves, affecting movement, sensation, or mental functioning.

Sigmund Freud

An Austrian neurologist and the founder of psychoanalysis, a discipline that focuses on the unconscious mind, repressed memories, and childhood experiences.

Psychoanalytic View

A theory of personality development and therapeutic framework that emphasizes unconscious processes and childhood experiences.

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A metaphor often used in psychology, especially in Freudian theory, to describe the mind’s structure: conscious mind as the tip of the iceberg, with the unconscious mind below the surface.