Using the Cobb-Douglas Production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$

question 92

Multiple Choice

Using the Cobb-Douglas production $Y = \bar { A } K ^ { 1 / 4 } L ^ { 3 / 4 }$ , the marginal product of labor, or the real
Wage, is:

• A) \(1 / 4 \cdot \frac { \bar { A } K ^ { - 3 / 4 } } { L ^ { 3 / 4 } }\)
• B) \(2 / 3 \cdot \frac { \bar { A } K ^ { 1 / 3 } } { L ^ { 1 / 3 } }\)
• C) \(3 / 4 \cdot \bar { A } L ^ { - 1 / 4 }\)
• D) \(\bar { A } K ^ { 1 / 4 }\)
• E) \(3 / 4 \cdot \frac { \bar { A } K ^ { - 1 / 4 } } { L ^ { 1 / 4 } }\)

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Definitions:

Employment-At-Will

A legal doctrine that means an employer can terminate an employee at any time for any reason, except an illegal one, or no reason without incurring legal liability.

Doctrine

A belief, principle, or policy held, taught, or advocated in law, such as the "doctrine of precedent" which is foundational to the common law system.

Fired

Termination of employment by an employer.

Disparate Treatment

Unequal behavior towards someone because of their race, age, gender, religion, or other protected status that results in discrimination.