In the Cobb-Douglas Production Function $\mathrm { Q } = \alpha \mathrm { L } ^ { \rho 1 } \mathrm {~K} ^ { \rho 2 }$

question 13

Multiple Choice

In the Cobb-Douglas production function ( $\mathrm { Q } = \alpha \mathrm { L } ^ { \rho 1 } \mathrm {~K} ^ { \rho 2 }$ ) :

• A) the marginal product of labor (L)is equal to ?1
• B) the average product of labor (L)is equal to ?2
• C) if the amount of labor input (L)is increased by 1 percent,the output will increase by ?1 percent
• D) a and b
• E) a and c